Homework Answers
Answer:
| Date | Accounts titles and Explanation | Debit ($) | Credit ($) |
| Mar-31 | Cash | 1,72,800 | |
| Sales | 1,60,000 | ||
| Sales Tax | 12,800 | ||
| ( To record cash sales plus 8% sales tax collected for state of New Jersey) | |||
| (sales tax =$160000*8% =$12,800) | |||
| Apr-06 | Sales Tax | 12,800 | |
| Cash | 12,800 | ||
| ( To tecord sales tax sent to state) | |||
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