Eastern Travel records sales and sales tax in separate accounts. For the month o

Question

Eastern Travel records sales and sales tax in separate accounts. For the month of January, sales total $23,750, and sales tax is $2,375.

Western Travel records sales and sales tax together. For the month of January, sales total $13,200, including an 10% sales tax.

5) part 1

Record cash sales and the related sales tax for Eastern Travel

6) part 2

Record cash sales and the related sales tax for Western Travel

1.

Eastern Travel records sales and sales tax in separate accounts. For the month of January, sales total $23,750, and sales tax is $2,375.

2.

Western Travel records sales and sales tax together. For the month of January, sales total $13,200, including an 10% sales tax.

5) part 1

Record cash sales and the related sales tax for Eastern Travel

6) part 2

Record cash sales and the related sales tax for Western Travel

Explanation / Answer

Eastern Travel

Western Travel:

13200 / 1.1 (1 + sales tax percentage) = 12000 sales price

13200 - 12000 = 1200 sales tax

Cash 26125 Sales 23750 Sales tax payable 2375

Related Questions

Navigate

• Browse (All)
• Browse E
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.