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bravata bravata
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7 years ago
The Print Shoppe had sales on account of $4,500 which were subject to state sales tax of 9.5%. The entry to record the sales would be to:
A) debit Accounts Receivable $4,500; credit Sales Revenue $4,500.
B) debit Accounts Receivable $4,500; debit Sales Tax Payable $427.50; credit Sales Revenue $4,927.50.
C) debit Accounts Receivable $4,927.50; credit Sales Revenue $4,927.50.
D) debit Accounts Receivable $4,927.50; credit Sales Revenue $4,500; credit Sales Tax Payable $427.50.
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Financial Accounting

Financial Accounting


Edition: 3rd
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antonio_johnantonio_john
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Massachusetts Institute of Technology
-- Accounting

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bravata Author
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#2
6 years ago
Thank you so much

I wish I knew about this years ago
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