Dextra Computing sells merchandise for $16,000 cash on September 30 (cost ofChegg Stu
chapters 9 amp; 10 i
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Dextra Computing sells merchandise for $16,000 cash on September 30 (cost of merchandise is $11,200). The sales tax law requires
Dextra to collect 10% sales tax on every dollar of merchandise sold. Record the entry for the $16,000 sale and its applicable sales tax.
Also record the entry that shows the payment of the 10% tax on this sale to the state government on October 15.
View transaction list
View journal entry worksheet
No
Date
General Journal
Debit
Sep 30
Cash
17,600
Sales
16,000
Sales taxes payable
1,600
Sep 30
Cost of goods sold
11,200
Merchandise inventory
11,200
i
Oct 15
Sales taxes payable
1,600
Cash
1,600Business

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