Business, 18.03.2021 23:40, kyleryoung0602

Cantrell Company is required by law to collect and remit sales taxes to the state. If Cantrell has $6500 of cash sales that are subject to an 9% sales tax, what is the journal entry to record the cash sales? Question 7 options: Debit Cash $6500; credit Sales $6500; and record the taxes when paid. Debit Accounts Receivable $7085; credit Sales $6500; credit Sales Taxes Payable $585. Debit Sales Taxes Payable $585; debit Cash $5915; credit Sales $6500. Debit Cash $7085; credit Sales $6500; credit Sales Taxes Payable $585. Debit Cash $6500; credit Sales $5915; credit Sales Taxes Payable $585.

Answers: 1

Show answers

Other questions on the subject: Business

Business, 21.06.2019 14:30, sarahabuadas7396

Do savings and loan associations offer checking accounts?

Answers: 1

continue

Business, 22.06.2019 07:30, mdndndndj7365

Which of the following best describes why you need to establish goals for your program?

Answers: 3

continue

Business, 22.06.2019 11:30, zitterkoph

Leticia has worked for 20 years in the public relations department of a large firm and has been the vice-president for the past ten years. it is unlikely she will ever be promoted to the top executive position in her firm even though she has directed several successful projects and is quite capable. her lack of promotion is an illustration of (a) the "glass ceiling" (b) the "glass elevator" (c) the "mommy track" (d) sexual harassment

Answers: 3

continue

Business, 22.06.2019 19:10, soevse

Fortress international, a large conglomerate, procures a few component parts from external suppliers and also manufactures some of the key raw materials in its own subsidiaries. aside from this, the company does not solely depend on outside distributors to reach its customers. in fact, it has its own retail stores to distribute its products. in this scenario, which of the following alternatives to vertical integration is fortress international applying? a. concentric integration b. taper integration c. horizontal integration d. conglomerate integration

Answers: 1

continue

Do you know the correct answer?

Cantrell Company is required by law to collect and remit sales taxes to the state. If Cantrell has $...