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Kahn Company Had Cash Sales of $60,000 for the Month

Question 121

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Kahn Company had cash sales of $60,000 for the month of June.Sales are subject to a 4 1/2 percent sales tax and a 6 percent excise tax.In the journal provided,prepare a compound entry without explanation to record Kahn's sales and related sales and excise taxes for the month.
Kahn Company had cash sales of $60,000 for the month of June.Sales are subject to a 4 1/2 percent sales tax and a 6 percent excise tax.In the journal provided,prepare a compound entry without explanation to record Kahn's sales and related sales and excise taxes for the month.

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