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Prepare adjusting entry for sales tax

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Reference no: EM132479037

Point 1: (Adjusting Entry for Sales Tax) During the month of June, Rowling Boutique recorded cash sales of $233,200 and credit sales of $153,700, both of which include the 6%% sales tax that must be remitted to the state by July 15.

Instructions

Question 1: Prepare the adjusting entry that should be recorded to fairly present the June 30 financial statements.

Reference no: EM132479037

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