Match Point, Co. sells products at its retailer store in Nebraska. The State has a 6% state sales tax rate, and all companies are required by law to collect and remit sales taxes on a quarterly basis. If the company has $7,500 of cash sales (excluding sales taxes) during the period, what is the journal entry to record the cash sales? debit cash $7,950; credit sales $7,500; credit sales taxes payable $450 debit sales taxes payable $450; debit cash $7,950; credit sales $7,500 debit cash $7,950; credit sales $7,950 debit accounts receivable $450; credit sales $7,950; credit sales taxes payable $7,500