Elegant Electronics sells a cellular phone on September 2 for $480. On September 6, Elegant sells another cellular phone for $580. Sales tax is computed at 4.0 percent of the total sale.Prepare journal entries for each sale, including sales tax, and the remittance of all sales tax to the tax board on October 23. Round your answers to two decimal places. If an amount box does not require an entry, leave it blank.Sept. 2 fill in the blank 2fill in the blank 3 fill in the blank 5fill in the blank 6 fill in the blank 8fill in the blank 9Sept. 6 fill in the blank 11fill in the blank 12 fill in the blank 14fill in the blank 15 fill in the blank 17fill in the blank 18Oct. 23 fill in the blank 20fill in the blank 21 fill in the blank 23fill in the blank 24 Elegant Electronics sells a cellular phone on September 2 for $480.On September 6, Elegant sells another cellular phone for $580.Sales tax is computed at 4.0 percent of the total sale.Prepare journal entries for each sale, including sales tax, and theremittance of all sales tax to the tax board on October 23. Roundyour answers to two decimal places. If an amount box does notrequire an entry, leave it blank.Sept. 2Sept. 6Oct. 23000 100 11000 100

Working Note; Sales tax payable (2nd Sept.)=Sale amount×Tax rate=$480×4%=$19.2

Answered: legant Electronics sells a cellular…

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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Elegant Electronics sells a cellular phone on September 2 for $480. On September 6, Elegant sells another cellular phone for $580. Sales tax is computed at 4.0 percent of the total sale.

Prepare journal entries for each sale, including sales tax, and the remittance of all sales tax to the tax board on October 23. Round your answers to two decimal places. If an amount box does not require an entry, leave it blank.

Sept. 2	fill in the blank 2	fill in the blank 3
	fill in the blank 5	fill in the blank 6
	fill in the blank 8	fill in the blank 9
Sept. 6	fill in the blank 11	fill in the blank 12
	fill in the blank 14	fill in the blank 15
	fill in the blank 17	fill in the blank 18
Oct. 23	fill in the blank 20	fill in the blank 21
	fill in the blank 23	fill in the blank 24

Elegant Electronics sells a cellular phone on September 2 for $480.
On September 6, Elegant sells another cellular phone for $580.
Sales tax is computed at 4.0 percent of the total sale.
Prepare journal entries for each sale, including sales tax, and the
remittance of all sales tax to the tax board on October 23. Round
your answers to two decimal places. If an amount box does not
require an entry, leave it blank.
Sept. 2
Sept. 6
Oct. 23
000 100 11
000 1
00

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