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    ajaysaini's Avatar
    ajaysaini Posts: 2, Reputation: 1
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    #1

    Apr 14, 2008, 07:28 AM
    Journal Entry
    I Need to know the Journal entry for the sale of paintings which was for 400 and our gally received commission of 30% fro the sales and 8.375% is the sales tax. The artist gets paid the rest of the amount. Please help
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
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    #2

    Apr 14, 2008, 11:00 PM
    I am a bit confused on something.

    You received 400 cash for the painting?

    So that 400 includes the sales tax?

    Your commission of 30%, is that before sales tax?
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