Business, 23.07.2020 02:01 blossie94681

Dextra Computing sells merchandise for $6,000 cash on September 30 (cost of merchandise is $3,900). The sales tax law requires Dextra to collect 5% sales tax on every dollar of merchandise sold. Record the entry for the $6,000 sale and its applicable sales tax. Also record the entry that shows the remittance of the 5% tax on this sale to the state government on October 15.Record the cost of Sept. 30th sales in a journal entry workshetRecord the entry that shows the remittance of the 5% tax on this sale to the state government on October 15 in a journal entry worksheet

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Answer from: joylsbarbour

1. Journal entry for the sales of merchandise

General Journal Entry

Date Account Titles and Explanation Debit Credit

Sept 30 Cash ($6000 + $300) $6,300

Sales $6,000

Sales Tax Payable($6000 * 5%) $300

(To record the collection of sales and sales tax)

2. Journal entry for the cost of merchandise sold

General Journal Entry

Date Account Titles and Explanation Debit Credit

Sept 30. Cost of goods sold $3,900

Merchandise inventory $3,900

(To record the cost of merchandise sold by receiving cash)

3. Journal entry for the cost of merchandise sold

General Journal Entry

Date Account Titles and Explanation Debit Credit

Oct 15. Sales Tax payable $300

Cash $300

(To record the payment of accrued sales tax to government)

Answer from: Quest

b. a single paragraph.

a paragraph is a series of sentences that are organized and make sense, and are all related to a single topic . almost every piece of writing you do that is longer than a few sentences should be organized into paragraphs. this is because paragraphs show a reader where the subdivisions of an essay begin and end, and thus the reader see the organization of the essay into subjects in order to be able to understand its main points.

Answer from: Quest

what are the sentences? so we can answer the question.

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Dextra Computing sells merchandise for $6,000 cash on September 30 (cost of merchandise is $3,900)....