During December, Rainey Equipment made a $694,000 credit sale. The state sales tax rate is 6% and the local sales tax rate is 1.5%. Prepare the appropriate journal entry. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

&Answer is complete but not entirely correct. No Event General Journal Debit Credit Accounts receivable 694,000 Sales revenue Sales taxes payable Sales taxes payable 694,000 41,640 10,410