Question
A company receives $264, of which $24 is for sales tax. The journal entry to record the sale would include a debit to Sales Taxes
A company receives $264, of which $24 is for sales tax. The journal entry to record the sale would include a
| debit to Sales Taxes Expense for $24. | ||
| credit to Sales Taxes Payable for $24. | ||
| debit to Sales Revenue for $264. | ||
| debit to Cash for $240. |
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Swanson On Internal Auditing Raising The Bar
Authors: IT Governance Publishing
1st Edition
1849280673, 978-1849280679
