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Make journal entries for the transcriptions

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Question - On Jan 15, Chicago received $7,000 from Henry Construction toward the purchases of $66,000 of plate glass to be delivered on Feb 6. On Feb3, Chicago received $6,700 of refundable deposit relating to containers used to transport glass components. On Feb 6, Chicago delivered the plate glass to Henry Construction and received the balance of the purchase price. First quarter credit sales totaled $700,000. The state sale tax rate is 10.5% and the local sales tax rate is 1%. Make journal entries for the above transcriptions.

Reference no: EM133157876

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