Homework Answers
Correct answer---------(B) debit accounts receivable $32940, credit sales revenue $30500 credit sales tax payable $2440.
.
Sales tax amount is paid by the customer and then deposited to the government by the seller. This sales tax is recorded as liability until paid to the government.
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Windsor, Inc. had net sales in 2017 of $1,475,200. At December
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Windsor, Inc. had net sales in 2017 of $1,475,200. At December
31, 2017, before adjusting entries, the balances in selected
accounts were Accounts Receivable $212,500 debit, and Allowance for
Doubtful Accounts $1,828 debit. Assume that 11% of accounts
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record bad debt expense. (If no entry is required,
select "No Entry" for the account titles and enter 0 for the
amounts. Credit account titles are automatically...
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