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tivo tivo
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7 years ago
Metropolitan Masonry had sales on account of $7,200 which were subject to state sales tax of 7%. The entry to record the sales would be to:
A) debit Accounts Receivable, $7,704; credit Sales revenue, $7,200; credit Sales tax payable, $504.
B) debit Accounts Receivable, $7,704; credit Sale revenue, $7,704.
C) debit Accounts Receivable, $7,200; credit Sales revenue, $7,200.
D) debit Accounts Receivable, $7,200; debit Sales tax payable, $504; credit Sales revenue, $7,704.
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Financial Accounting

Financial Accounting


Edition: 3rd
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largerthanlifelargerthanlife
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tivo Author
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7 years ago
Luckily this is the last business course I'll be taking. Thank you greatly
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