sunfiregirl
Apr 24, 2008, 01:51 PM
How do I journalize this transaction?
Recorded the week's sales of $51000, one third for cash, and two-thirds on account. All sales amounts are subject to a 5% sales tax.
Dr. Cash
Cr. Sales Tax Payable
I dont know what other two accounts to debit and credit.
Recorded the week's sales of $51000, one third for cash, and two-thirds on account. All sales amounts are subject to a 5% sales tax.
Dr. Cash
Cr. Sales Tax Payable
I dont know what other two accounts to debit and credit.





