During the month of June, Bench Co. had cash sales of $300,000 and credit sales of $180,000,

Question:

During the month of June, Bench Co. had cash sales of $300,000 and credit sales of $180,000, both of which include the 8% sales tax that must be remitted to the state by July 15.

Instructions
Prepare the adjusting entry that should be recorded to fairly present the June 30 financial statements.