Best Buy stores sells a computer system to a customer for $500 in PA where the sales tax is 6%. The customer pays cash of $530 to Best Buy. The store records $500 sales revenue and sales tax expense of $30.

Group of answer choices

True

False

Question 2

Best Buy stores sells a computer system to a customer for $500 in PA where the sales tax is 6%. The customer pays cash of $500 to Best Buy and the store pays PA $30 categorized in their general ledger accounts as sales tax expense.

Group of answer choices

True

False