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Furniture World is required by law to collect and send sales taxes to the state. If Furniture World has $81,000 of cash sales that are

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Furniture World is required by law to collect and send sales taxes to the state. If Furniture World has $81,000 of cash sales that are subject to a 7% sales tax, what is the journal entry to record the cash sales? Multiple Choice Debit Cash $86,670; credit Sales $81,000; credit Sales Taxes Payable $5,670. Debit Sales Taxes Payable $5,670; debit Cash $75,330; credit Sales $81,000. Debit Cash $81,000; credit Sales $81,000; and record the taxes when paid. Debit Cash $81,000; credit Sales \$75,330; credit Sales Taxes Payable $5,670. Debit Accounts Receivable $86,670; credit Sales $81,000; credit Sales Taxes Payable $5,670

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