Question: 39 (1 point) ~ Saved In May, a retailer recorded credit sales of $14,000. Assuming the sales tax rate is 8 percent, the entry to
39 (1 point) ~ Saved In May, a retailer recorded credit sales of $14,000. Assuming the sales tax rate is 8 percent, the entry to record the sales in the sales journal would include: a debit to Accounts Receivable of $15,120. a debit to Sales Tax Payable of $1,120. a credit to Accounts Receivable of $15,120. a credit to Sales of $15,120
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
