Our company sold merchandise on account with a cost of $700 for $1,000. Our company uses a perpetual inventory system. What account and amount would we credit to record the sales revenue?

Explanation:

The journal entry to record the sales revenue under the perpetual inventory method is shown below:

Accounts receivable A/c Dr $1,000

      To Sales revenue A/c $1,000

(Being the sales revenue is recorded)

We simply debited the account receivable and credited the sales revenue for $1,000 each as both the accounts are increased  

hi : ) i found this so i hope this !

"we first find value of tax in dollars.

the difference between the two prices   is: 23. 54 - 22 = 1.54

therefore the sales tax in dollars is 1.54

the tax % will be   (amount of tax / original cost price ) × 100

(1.54 / 22) × 100  → (0.07) × 100 =   7

so the tax rate is 7%

we can double check the answer.

7 % of 22   → (7/100) × 22 → 0.07 × 22 = 1.54

22 + 1.54 = 23.54"

answer; the cpi;