4. Your conmpany sells $50,000 of goods, and you collect sales tax of 7%. What is the journal entry to record the transaction? A. Cash 50,000 3,500 Sales Tax Expense Sales Revenue 53,500 B. Cash 50,000 3,500 Sales Tax Expense Sales Tax Payable Sales Revenue 3,500 50,000 C. Cash 50,000 3,500 Sales Tax Payable Sales Revenue 53,500 D. Cash 53,500 3,500 50,000 Sales Tax Payable Sales Revenue