Essay
Raleigh Company billed its customers a total of $1,155,000 for the month of November. The total includes a 5% state sales tax.
Required:
a. Prepare the journal entry to record the revenue and related liabilities for the month.
b. Prepare the journal entry to record the sales tax remittance to the state.
Correct Answer:
Verified
Correct Answer:
Verified
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