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Furniture World is required by law to collect and send sales taxes to the state. If Furniture World has $ 9 5 , 0 0
Furniture World is required by law to collect and send sales taxes to the state. If Furniture World has $ of cash sales that are subject to a sales tax, what is the journal entry to record the cash sales?
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Debit Accounts Receivable $; credit Sales $; credit Sales Taxes Payable $
Debit Cash $; credit Sales $; and record the taxes when paid.
Debit Cash $; credit Sales $; credit Sales Taxes Payable $
Debit Cash $; credit Sales $; credit Sales Taxes Payable $
Debit Sales Taxes Payable $; debit Cash $; credit Sales $
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