sold 2 trail-track 2000 snow mobiles and a Norton trailer to Karen Osetto at an out-the-door price of 14697.79 which includes sales tax(7%) (inv # G3012). Ms. Osetto presented a check of 6000 as a cash down payment and charged the balance to her account. the account will be paid in 30 days, to calculate the total sales amount divide the out-the-door price by 1.07. the difference between the answer and the total selling cost will be the sales tax.
merc on sales inv
trail-track 2000 snow mobiles 2@ 5148.00
Norton trailer 1@ 693
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My work so far ....
14697.79/1.07=14132.49(total sale price)
14697.79-14132.49= 565.30(sales tax)
14697.79-6000=8697.79(remaining balance)
DR Cash 6000
Dr Acct pay 8697.79
Cr Snowmobile&Accessories Sales 14132.49
Cr Sales Tax Payable 565.30
and this is where my unknown error is "announced" i select the Merchandise from a drop down enter quantity and click verify inv data and it say "my retail value does not match" (i can not edit the item price or total only quantity)
any help would be greatly appreciated
merc on sales inv
trail-track 2000 snow mobiles 2@ 5148.00
Norton trailer 1@ 693
------------------------------------------------------------------------------------------------------------------------------------
My work so far ....
14697.79/1.07=14132.49(total sale price)
14697.79-14132.49= 565.30(sales tax)
14697.79-6000=8697.79(remaining balance)
DR Cash 6000
Dr Acct pay 8697.79
Cr Snowmobile&Accessories Sales 14132.49
Cr Sales Tax Payable 565.30
and this is where my unknown error is "announced" i select the Merchandise from a drop down enter quantity and click verify inv data and it say "my retail value does not match" (i can not edit the item price or total only quantity)
any help would be greatly appreciated