Swisher Company sold inventory with a selling price of $5,000 to customers for cash. It also collected

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Swisher Company sold inventory with a selling price of $5,000 to customers for cash. It also collected sales taxes of $250. The journal entry to record this information includes a

a. Credit to Sales Tax Expense $250.

b. Credit to Sales Revenue $5,250.

c. Debit to Sales Tax Payable $250.

d. Debit to Cash of $5,250.

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Related Book For answer-question

Financial Accounting

ISBN: 978-0134725987

12th edition

Authors: C. William Thomas, Wendy M. Tietz, Walter T. Harrison Jr.

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Question Posted: Jun 17, 2019 01:03 PM

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Swisher Company sold inventory with a selling price of $5,000 to customers for cash. It also collected

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Financial Accounting

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