Green Grocery Store had sales of $80,000 in January. The state the grocery store operates in has a 6% sales tax. Green collected the proper amount of sales tax from its customers. What is the journal entry that Green would record when the taxes are remitted to the state? Select one: a. Dr. Cash $4,800. Cr. Sales Taxes Payable $4,800 O b. Dr. Sales Taxes Payable $4,800. Cr. Cash $4,800 C. Dr. Sales Taxes Payable $4,800. Cr. Sales Revenue $4,800 d. No entry is needed The current portion of interest due on a long term bond payable is classified on the balance sheet as a: Select one: a. Long-term liability O b. Long-term asset c. Current liability d. Current asset Which of the following is not correct about the sales tax? Select one: O a. Many states require businesses to collect sales tax on retail sales of certain items O b. The customer actually pays the sales tax not the retail business c. The business collects the tax from the customer and remits the tax collections to the state government d. The business pays a sales tax based on a percentage of the sales price