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Fast Furniture is a retailer located in a city that charges 8.1% sales tax on all purchases. On February 20, a customer buys $1,200 in
Fast Furniture is a retailer located in a city that charges 8.1% sales tax on all purchases. On February 20, a customer buys $1,200 in furniture using a credit card. Sales tax on the sale is $97.20. In a journal entry, the accountant for Fast Furniture should debit Accounts Receivable for $1,297.20 and credit. Sales for $1,200. Inventory for $1,297.20. Sales for $1,297.20. Cash for $1,200
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