Indigo Corporation made credit sales of $19,800 which are subject to 7% sales tax. The corporation also made cash sales which totaled $28,462 including the 7% sales tax. (a) Your answer is partially correct. Prepare the entry to record Indigo's credit sales. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Cash Sales Revenue Debit 28462 Credit 26600

Indigo Corporation made credit sales of $19,800 which are subject to 7% sales tax. The corporation also made cash sales which totaled $28,462 including the 7% sales tax. (a) Your answer is partially correct. Prepare the entry to record Indigo's credit sales. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Cash Sales Revenue Debit 28462 Credit 26600

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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