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Prepare the entries to record the sales transactions

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Reference no: EM132753284

Question: In performing accounting services for small businesses, you encounter the following situations pertaining to cash sales.

1. Oriole Company enters sales and sales taxes separately on its cash register. On April 10, the register totals are sales $39,500 and sales taxes $1,975.2.

Sunland Company does not segregate sales and sales taxes. Its register total for April 15 is $25,380, which includes a 8% sales tax.

Prepare the entries to record the sales transactions and related taxes for Oriole Company and Sunland Company. Omit the cost of goods sold entry. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Reference no: EM132753284

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