Question
Jude's Tie Shop sells 1,000 ties on account for $50 per tie. plus 8% state sales tax. Which of the following would be included in
Jude's Tie Shop sells 1,000 ties on account for $50 per tie. plus 8% state sales tax. Which of the following would be included in the journal entry to record this sale?
- A. Dr. Sales Tax Expense $4,000
- B. Dr. Revenue $54,000
- C. Dr. Accounts Receivable $54,000
- D. Dr. Sales Tax Payable $4,000
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Managerial Accounting An Introduction to Concepts Methods and Uses
Authors: Michael W. Maher, Clyde P. Stickney, Roman L. Weil
10th Edition
1111822239, 324639767, 9781111822231, 978-0324639766
