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Connolly Company sold merchandise on account to K. Kerrigan for $2,400, plus $150 sales tax. How would Connolly Company record this transaction in the sales
Connolly Company sold merchandise on account to K. Kerrigan for $2,400, plus $150 sales tax. How would Connolly Company record this transaction in the sales journal? a. Debit Accounts Receivable for $2,400, debit Sales Tax Payable for $150, and credit Sales for $2,550 b. Debit Accounts Receivable for $2,400 and credit Sales for $2,400 c. Debit Accounts Receivable for $2,550, credit Sales for $2,400, and credit Sales Tax Payable for $150 d. Debit Accounts Receivable for $2,550 and credit Sales for $2,550
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