Discuss the entries to record the sales transactions


In providing accounting services to small businesses, you encounter the following situations pertaining to cash sales. 1. Duvall Company rings up sales and sales taxes seperately on its cash register. On April 10, the register totals are sales $22,000 and sales taxes $1,100. 2. Hubbard Company does not segregate sales and sales taxes. Its register total for April 15 is $13,780, which includes a 6% sales tax. **Prepare the entries to record the sales transactions and related taxes for (a) Duvall Company and (b) Hubbard Company.

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: Discuss the entries to record the sales transactions
Reference No:- TGS0721029

Expected delivery within 24 Hours