1. Polo company sold 10000 units of merchandise to exon company for a pricd of $10 each in cash. Applicable sales tax rate was 8% which was not included in price. Unit cost was $6.50. Provide the journal entry to record the sales in Polos books

4 B TI 15 F w X Y Nous Roceivabla Payroll Tex expenso Premium on Bonds Payable Rent Expense Retained Earnings Salaries & Wages Expense Salos Revenue Sales Discount 18 2 H I J AA BB K Accounts Payable Accounts Receivabla Bonds l'ayable Capital Lease Payable Cash Cost of Goods Sold Discount on Bonds Payable Equipment Federal Income Tax Withheld Payable Federal Unemployment Taxes Payable FICA Taxes Payable Gain on Disposal of Mexico branch Income Tax Payable Interest Expense EE Sales Tax Payable L FF 4 M GG N HH o II P JJ State Income Tax Withheld Payable State Unemployment Taxes Payable Supplies Utilities Expense Unrealized holding Loss on Investment (Ava for sale) Investments in Marketable Securities (Ava for sale) Accumulated Other Comprehensive Income Income Summary Common Stock Q Interest Revenue KK R Losses due to hurricane LL S T Merchandise Inventory Notes Payable MM NN