Journalize the Entries to Record the Following Selected Transactions

question 110

Essay

Journalize the entries to record the following selected transactions:
(a)Sold $900 of merchandise on account, subject to 7% sales tax. The cost of the merchandise sold was $510.
(b)Paid $436 to the state sales tax department for taxes collected.

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Definitions:

Servant Leadership

A leadership philosophy which states that the primary goal of the leader is to serve. This is different from traditional leadership where the leader's main focus is the thriving of their company or organizations.

Ethical Leadership

The practice of leading by demonstrating ethical behavior, fostering an ethical culture, and making decisions based on ethical principles.

Aristotle

An ancient Greek philosopher and polymath whose writings cover many subjects, including physics, biology, ethics, politics, and logic.

Virtue-Based

Pertains to ethical frameworks that emphasize character and virtues in moral evaluation or decision making.