Splish Corporation made credit sales of $30,600 which are subject to 7% sales tax. The corporation also made cash sales which totaled $10,593 including the 7% sales tax. (a) Prepare the entry to record Splish'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. List all debit entries before credit entries.) Account Titles and Explanation Debit Credit

Journal entries are the primary reporting of the business transactions in the books of accounts. These are further posted to the ledger book.Account titles and explanationDebitCreditAccounts receivable $ 32,742 Sales revenue $ 30,600 Sales tax payable $ 2,142

Answered: Splish Corporation made credit sales of $30,600 which are subject to 7% sales tax. The corporation also made cash sales which totaled $10,593 including the 7%…

FINANCIAL ACCOUNTING

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Intermediate Accounting 105

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Splish Corporation made credit sales of $30,600 which are subject to 7% sales tax. The corporation also made cash sales which totaled
$10,593 including the 7% sales tax.
(a)
Prepare the entry to record Splish'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. List all debit entries before
credit entries.)
Account Titles and Explanation
Debit
Credit

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Step 1: Define journal entry:

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Step 2: The workings for the journal entry are as follows:

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