Answer each question independently. Read the requirements. Requirement A restaurant made cash sales o $12.000 subject to a 3% sales tax. Record the sales and the related sales tax. Also re ord the payment of the tax to the state. Record debits first, then credits Select the explanation on the last line of the journal entry table.) Begin by preparing a compound journal entry to record the sales and the related sales tax. Date Accounts and Explanations Debit Credit Requirements 1. A restaurant made cash sales of $12,000 subject to a 3% sales tax. Record the sales and the related sales tax. Also record the payment of the tax to the state On October 1, 2018, McCann Company purchased equipment at a cost of $70,000 signing a four-month, 9% note payable for that amount. Record the October 1 purchase. Also record the adjusting entry needed on December 31, 2018, and payment of the note plus interest at maturity on February 1, 2019. How does a contingent liability differ from a known liability? When would a contingent liability be journalized? 2. Now record the payment of the tax to the state. 3. Date Accounts and Explanations Debit Credit PrintDone Requirement 2 n October 1 2 18 McCann Company purchased equipment at a cost or $70.000 signing a four-month. 9% note payable for that amount. Record the October 1 purchase. Also record the adjusting entry needed on December 31, 2018, and payment of the note plus interest at maturity on February 1, 2019. Record debits first, then credits. Select the explanation on the last line of the journal entry table.)