Borrow: Cash
Credit: Main Business Income
2. Expenses:
Borrow: Business Expenses
Credit: Cash/Bank Deposits/Accounts Payable
3. End of the month, the tax:
Borrow: Business Taxes and Surcharges
Credit: Taxes Payable ------ Business tax payable (= business revenue * 5%)
------ Urban construction tax (business tax * 7%)
------ Education surcharge (business tax * 3%)
4. Payment of tax:
Borrow: Taxes payable ------ Business tax payable (= business revenue * 5%)
------ Urban construction tax ( Business Tax*7%)
------ Education Surcharge (Business Tax*3%)
Credit: Bank Deposit