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…

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 Bridgeports cash sales.

Account Titles and Explanation                               Debit                                        Credit

____________________________________                       _____________________                 ________________________

________________________________                               _________________________             ________________________________

_______________________________                              _____________________________           __________________________________

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