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Journalize the entries to record the following selected transactions a Sold 62800 of merchandise on account subject to a sales tax of 5 The cost of the merchandise sold was 37500 b Paid

Journalize the entries to record the following selected transactions:
a. Sold $62,800 of merchandise on account, subject to a sales tax of 5%. The cost of the merchandise sold was $37,500.

b. Paid $39,650 to the state sales tax department for taxes collected.

 
 

Apr 14 2021 View more View Less

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