Prepare any necessary adjusting entrie at december 31, 2009,for Madison Comapny's year-end financial statements for each of the folowing seperate...

Prepare any necessary adjusting entrie at december 31, 2009,for Madison Comapny's year-end financial statements for each of the folowing seperate transactions and events. Madision company records an adjusting entry for $520000 of previously unrecorded cash sales (costing $260000) and its sales taxes at a rate of 7%