$5.$

Charlie's Pizza collected $\backslash$$$150$ in sales tax for the quarter. Which of the following accounts should be used in order to post the sales tax?

Select the single best answer:

A$.$ only Sales Taxes Payable

B$.$ Sales tax should not be recorded.

C$.$ both Sales Taxes Payable and Sales Tax Expense

D$.$ both Sales Taxes Payable and Cash

E$.$ both Income and Sales Tax Expense

$6.$

John, the owner of ABC Company, loans his business $\backslash (\backslash$$ $50,000\backslash ).$ Which of the following types of balance sheet accounts will be affected?

Select all answers that apply:

A$.$ assets

B$.$ liabilities

C$.$ income

D$.$ expenses

E$.$ capital

$7.$

Which of the following financial statements would show a loan from the owner of the business?

Select the single best answer:

A$.$ income statement

B$.$ balance sheet

C$.$ trial balance

D$.$ receivables summary

E$.$ None of the above; a loan from the owner of a business should not appear on any financial statements.