QUESTION DETAIL
Related User
Votes
On July 1, we sold $735 worth of goods to Lennon Goods plus $53.50 worth of sales tax with payment terms of net 30. What would be the correct journal entry?
ANSWER
Expert Michael Lim's Answer:
The correct journal entry would be:
Dr. Cash $788.50
Cr. Revenue $735.00
Cr. Sales Tax Payable 53.50
