I need to record an estimated quarterly income tax payment and am not sure of what the entry would be. Any help would be greatly appreciated. Dr?? Cr Cash for the payment Thanks

Record the following transactions in the Sales Journal and Cash Recepits Journals. The cost of all merchandise sold was 70% of the sales price. July 2 Sold Merchandise for 21,000 to B.Tate on account. Credit ter,s 2/10, n/30. Sales invoice No. 100 July 5 Received a check for $800...

July 9th Office Supply Corp delivers furniture ($1,060) and expendable office supplies ($160) to Random Leaving an invoice for $1220. The journal entry to record the July 9th transaction will include a credit of $1,220 to what account?? I’m pretty sure that it’s Accounts...

Does making big depsits increase your creidt score

I work for a company where the customer has to pay me in advance before getting their product. I have to order the product from the wholesaler after I receive the money. I sold a product for $14.84, $7.00 will be profit, and $7.00 and $0.84 in taxes are going to be sent to the wholesaler for the...