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A company receives $377, of which $21 is for sales tax. The journal entry to record the sale would include a debit to Sales
A company receives $377, of which $21 is for sales tax. The journal entry to record the sale would include a debit to Sales Taxes Payable for $21. debit to Cash for $377. debit to Sales Revenue for $377. debit to Sales Tax Expense for $21.
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Financial and Managerial Accounting
Authors: Horngren, Harrison, Oliver
3rd Edition
978-0132497992, 132913771, 132497972, 132497999, 9780132913775, 978-0132497978
