Question Details

Hibbett Company does not segregate sales 


Ex. 1
English Company billed its customers a total of $1,890,000 for the month of November. The total includes a 5% state sales tax.
Instructions
(a)	Determine the proper amount of revenue to report for the month.
(b)	Prepare the general journal entry to record the revenue and related liabilities for the month.

Ex. 2
Hibbett Company does not segregate sales and sales taxes on its cash register. Its register total for the month is $259,700, which includes a 6% sales tax.
Instructions
Compute sales taxes payable, and make the entry to record sales and sales taxes payable.




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