Exercise 10-4 Date Account Titles and Explanation Debit Credit SHOW LIST OF ACCO

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Exercise 10-4

Date

Account Titles and Explanation

Debit

Credit

SHOW LIST OF ACCOUNTS

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Date

Account Titles and Explanation

Debit

Credit

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Exercise 10-4

In performing accounting services for small businesses, you encounter the following situations pertaining to cash sales.
1. Sunland Company enters sales and sales taxes separately on its cash register. On April 10, the register totals are sales $31,500 and sales taxes $1,575. 2. Crane Company does not segregate sales and sales taxes. Its register total for April 15 is $20,710, which includes a 9% sales tax.

Explanation / Answer

1.

2.

Date Account titles and explanation Debit Credit Apr. 10 Cash $33,075 Sales Revenue $31,500 Sales Tax payable $1,575

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