Record on credit sales

by | Jun 23, 2021 | Assignment Help

Bridgeport Corporation made credit sales of $40,200 which are subject to 5% sales tax.  The corporation also made cash sales which totaled $21,210 including the 5% sales tax.

Prepare the entry to record Bridgeport’s credit sales.

Account Titles and Explanation                                                  

Debit                                            

 Credit        

Prepare the entry to record Bridgeport’s cash sales.

Account Titles and Explanation                              

Debit                                      

 Credit

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