Unsecured Ltd.credited the Sales account for $175,600 during the month of August.All sales are for cash.Included in this amount is 5% sales tax required by the federal government for collection of GST.On August 31,Unsecured Ltd.must remit the appropriate amount of sales tax due.
Prepare all entries for May for the above transactions.

Question

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The Answer of Unsecured Ltd.credited the Sales account for $175,600 during the month of August.All sales are for cash.Included in this amount is 5% sales tax required by the federal government for collection of GST.On August 31,Unsecured Ltd.must remit the appropriate amount of sales tax due.
Prepare all entries for May for the above transactions.