Homework: Chapter 11 Introduction Assignment Score: 0 of 2 pts 13 of 13 (11 complete) S11-2 (similar to) On July 5, Gunther Company recorded sales of merchandise inventory on account, 560,000. The sales were subject to sales tax of 7%. On August 15, Gunther Company paid $3,800 of sales tax to the state Requirements 1. Journalize the transaction to record the sale on July 5. Ignore cost of goods sold. 2. Journalire the transaction to record the payment of sales tax to the state Record debit first, then credits Select the exp tion on the last line of the journal entry table) Requirement 1. Journalize the transaction to record the sale on July 5. Ignore cost of goods sold Prepare a single compound entry for this transaction) Date Accounts and Explanation Dobit Accounts Receivable Sales Revenue Sales Tax Potrable Cash To record sales revenue on account and the related sales tax