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

Question 53

Essay

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 explanations 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 explanations to record Kahn's sales and related sales and excise taxes for the month.

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