Acc422 Intermediate Accounting: E13-7 During the month of June, Rowling Boutique had cash sales

Acc422 Intermediate Accounting

E13-7 (Adjusting Entry for Sales Tax)
During the month of June, Rowling Boutique had cash sales of $233,200 and credit sales of $153,700, both of which include the 6% sales tax that must be remitted to the state by July 15.

Instructions
Prepare the adjusting entry that should be recorded to fairly present the June 30 financial statements.
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