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Capitol Chimney Co. had sales on account of $30,500 which were subject to state sales tax of 8%. The entry to record the sales would
Capitol Chimney Co. had sales on account of $30,500 which were subject to state sales tax of 8%. The entry to record the sales would be to:Group of answer choicesdebit Accounts Receivable, $30,500; credit Sales revenue, $30,500.debit Accounts Receivable, $30,500; debit Sales tax payable, $2,440; credit Sales revenue, $32,940.debit Accounts Receivable, $32,940; credit Sale revenue, $32,940.debit Accounts Receivable, $32,940; credit Sales revenue, $30,500; credit Sales tax payable, $2,440.
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