Question

E13-5. (adjusting entry for sales tax) (lo 1) during the month of june, rowling boutique had cash sales of $233,200 and credit sales of $153,700, both of which include the 6% sales tax that must be remitted to the state by july 15. instructions prepare the adjusting entry that should be recorded to fairly present the june 30 financial statements.

Answer 1

you just have to add 233,200 + 153,700,and the multiply it by 6 and what ever u get u mutliply it by 30