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2. When the due amount is remitted to the income and sales tax department, the credit side of the entry that should be recorded by

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2. When the due amount is remitted to the income and sales tax department, the credit side of the entry that should be recorded by Tesco Grocery is A Cash 700 B Cash 17.500 C Sales Tax Payable 700 D Sales Tax Payable 17.500 Tesco Grocery rings up total receipts of $18,200. The amount received from the sale is equal to the sales price 100% plus 4% of sales, (sales tax rate of 4%). the journal entry is 1 The following entry should be recorded for the above transaction A Cash 18,200 Sales Revenues 18,200 B. Cash 18,200 Sales Revenues 17.500 Sales Tux Payable 700 C Cash 17.500 Sales Tax Payable 700 Sales Revenue 18,200 D None of the above 2. When the due amount is remitted to the income and sales tax department, the credit side of the entry that should be recorded by Tesco Grocery is A Cash 700 B Cash 17,500 C Sales Tax Payable 700 D. Sales Tax Pavable 17.500 livate Window ES

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