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If Jigsaw company sold merchandise in a state where sales tax was assessed at 5% sold $1000 worth of merchandise, the entry to record this
If Jigsaw company sold merchandise in a state where sales tax was assessed at 5% sold $1000 worth of merchandise, the entry to record this sale would include:
Question 4 options:
a)
A debit to cash for $1,000.
b)
A credit to revenue of $1,050.
c)
A credit to sales tax payable of $50.
d)
All the above.
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