Adjusting entry that should be recorded to fairly present

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Reference no: EM13755313

During the month of June, Rowling Boutique had cash sales of $352,556 and credit sales of $226,416, both of which include the 6% sales tax that must be remitted to the state by July 15.

Prepare the adjusting entry that should be recorded to fairly present the June 30 financial statements.

Reference no: EM13755313

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Adjusting entry that should be recorded to fairly present : During the month of June, Rowling Boutique had cash sales of $352,556 and credit sales of $226,416, both of which include the 6% sales tax that must be remitted to the state by July 15. Prepare the adjusting entry that should be recorded to fairly pr..

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