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Home Q & A Board Other Fields Homework Help Business Accounting
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risssssss risssssss
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5 years ago
Sales revenue for a sporting goods store amounted to $539,000 for the current period. All sales are on account and are subject to a sales tax of 11%. Which of the following would be included in the journal entry to record the sales transaction?
A) a debit to Sales Revenue for $539,000
B) a credit to Accounts Receivable for $539,000
C) a debit to Sales Tax Payable for $59,290
D) a debit to Accounts Receivable for $598,290
Textbook 
Horngren's Accounting

Horngren's Accounting


Edition: 11th
Authors:
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wrote...
#1
5 years ago
 D
Explanation:  D)
Accounts Receivable598,290
     Sales Revenue539,000
     Sales Tax Payable ($539,000  11%)59,290
risssssss Author
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#2
5 years ago
This is very helpful, my teacher this year is not good
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