Hilustrate the effects on the accounts and financial stotements of recording the foliowing seiected transactions. If no account or activity is affected, select "No effect " from the dropdown list and leave the corresponding number entry box blank. Enter account decreases, cash outflows, and the cost of merchandise sold as negative amounts. a. Sold 522,500 of merchandise on account, terms n/30, subject to a sales tax of 6%. The cost of the merchandise sold was 513,500 . b. Paid sales tax to the state sales tax department for taves collected on the preceding sale