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A company operates in a state where the sales tax is 5 percent. When a sale is made, what accounts would be used to record
A company operates in a state where the sales tax is 5 percent. When a sale is made, what accounts would be used to record the transaction? debit to cash, credit to sales revenue for the sales amount, credit to sales tax payable for the sales tax amount debit to sales tax expense, credit to sales revenue for the sales amount, credit to cash debit to cash, debit to sales tax payable, credit to sales revenue for the sales amount debit to cash, debit to sales tax expense, credit to sales revenue for the sales amount
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