The following transactions took place at Five Flags Amusement Park during May. Five Flags Amusement Park must charge 8 percent sales tax on all sales: DATE TRANSACTIONS 20X1 May 1 Sold merchandise on account to Bill Gomez; issued Sales Slip 1015 for $1,250 plus 8 percent sales tax, terms n/30. 15 Recorded cash sales, $3,300 plus 8 percent sales tax. 31 Received payment on account due from Bill Gomez for the sale on May 1. Required: Record the above transactions in a general journal:
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The following transactions took place at Five Flags Amusement Park during May. Five Flags Amusement...
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