if firm sales tax paid , under which ledger and subledger
it would be posted? give brief information
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Answer / m sambasiva rao
When Sales Tax Paid the follwoing entry to be made by
Accountant
Sales Tax Payable A/c Dr
(under group of other liabilities)
To Bank A/c
(Cash & Bank Balaces)
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Answer / sandeep
credit the actual sales value,
credit the sales tax portion,
debit the venodr with total value,
@ the time of deposit sales tax debit the sales tax a/c.
thanks
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Answer / sasi
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