Question
A company receives $400, of which $40 is for sales tax. The journal entry to record the sale would include a debit to Cash for
A company receives $400, of which $40 is for sales tax. The journal entry to record the sale would include a debit to Cash for $360. credit to Sales Revenue for $400. debit to Sales Taxes Payable for $40. credit to Sales Revenue for $360.
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Connect For Data Analytics For Accounting
Authors: Author
2nd Edition
1264152000, 9781264152001
