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ID: A 18. Merchandise is subject to a retail sales tax of s5.40. The sales sold on account for s90, and the sale is account

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ID: A 18. Merchandise is subject to a retail sales tax of s5.40. The sales sold on account for s90, and the sale is account should be credited for a. $84.60 $95.40 d, $93.60 e. none of the above condition and does not meet specification. 19. A customer returns merchandise that was delivered in poor that The account that the seller would debit for the of the return is a. Sales Returns and Allowances b. Purchase Returns and Allowances c. d. Purchases e, none of the above siso: sales tax of s6) was issued to a customer 20. A credit memorandum for s156 (sale price of merchandise would be for goods returned that had been purchased on account. To enter this transaction properly, Sales debited for a. $6 b. $150 c. $156 d, $144 e, none of the above 21. A schedule of accounts receivable is prepared Accounts a. to verify that the sum of the accounts receivable ledger balances equals the Receivable balance b. to send to all customers at the end of month same the c. to prove that the general ledger and accounts receivable ledger were posted at the time d. all of the above e, none of the above 22. To enter a cash sale, the journal entry includes a. debiting Sales, debiting Sales Tax Payable, and crediting Cash b. debiting Sales Tax Payable, debiting Cash, and crediting Sales c. debiting Sales, debiting Cash, and crediting Sales Tax Payable d. debiting cash, crediting Sales, and crediting Sales Tax payable e, none of the above sales tax of s5.40. The amount that 23. Merchandise is sold on account for s90, and the sale is subject to a retail should be added to Accounts Receivable would be a. $5.40 b. $94.60 c. S93.60 d. $95.40 e, none of the above

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