Joumalize the transactions for the company. Ignore cost of goods sold. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Mar. 31: Recorded cash sales of $230,000, plus sales tax of 5% collected for the state of New Jersey. (Prepare a single compound Journalize the transactions for the company. Ignore cost of goods sold. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) On April 6, Gem Software sent the sales tax it collected to the state. When Gem pays the tax, the company will decrease, or debit, the Sales Tax Payable liability account and decrease Cash (an asset). Record the transaction now. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.)