Answer:
Cash receipt:
Particulars Amount
................................................................
Sales = $1,500
Sales tax @4.00 % = $60
................................................................
Total = $1,560
.................................................................
Explanation:
Data :
Merchandise cost in the sales slip = $1,500
sales tax rate for the merchandise = 4%
Now,
the cash receipt data will include the merchandise cost, the amount of tax and the total amount after including the tax
Thus,
The amount of tax on the merchandise = sales tax rate × Merchandise cost
or
The amount of tax on the merchandise = 0.04 × $1,500 = $60
Hence,
the total cost = cost of merchandise + the sales tax = $1,500 + $60 = $1,560
Cash receipt:
Particulars Amount
................................................................
Sales = $1,500
Sales tax @4.00 % = $60
................................................................
Total = $1,560
.................................................................