Gem Corp. had cash sales of $10,000. The state sales tax rate is 10.8%. What amount is debited to ...

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Gem Corp. had cash sales of $10,000. The state sales tax rate is 10.8%. What amount is debited to ...

Gem Corp. had cash sales of $10,000. The state sales tax rate is 10.8%. What amount is debited to the Cash account?
A) $1,000
B) $10,000
C) $11,080
D) $1,080

Textbook

Horngren's Financial & Managerial Accounting, The Financial Chapters

Edition: 5^th

Authors: Miller-Nobles, Mattison, Matsumura

Read 623 times

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H3Ko Author

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7 years ago

YES! Can't believe I got this one right. Appreciate the confirmation

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