Slumberland sold an $800 couch to Charles, and he paid
Slumberland sold an $800 couch to Charles, and he paid cash. The sales tax rate is 8.5%. Looking at the transaction from Slumberland's point of view, which of the following statements is false?
A. Cash would be debited for $868.
B. Sales would be credited for $800.
C. Sales Tax Payable would be credited $68.
D. Sales Tax Expense would be debited for $68.
A. Cash would be debited for $868.
B. Sales would be credited for $800.
C. Sales Tax Payable would be credited $68.
D. Sales Tax Expense would be debited for $68.
