Business, 04.04.2020 08:37 carinaorcutt

Dextra Computing sells merchandise for $5,000 cash on September 30 (cost of merchandise is $3,000). The sales tax law requires Dextra to collect 3% sales tax on every dollar of merchandise sold. Record the entry for the $5,000 sale and its applicable sales tax. Also record the entry that shows the payment of the 3% tax on this sale to the state government on October 15.

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Dextra Computing sells merchandise for $5,000 cash on September 30 (cost of merchandise is $3,000)....