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Merchandise is sold for cash for $2.500 plus 5 percent sales tax. The journal entry to record the sale will include Multiple Choice a debit
Merchandise is sold for cash for $2.500 plus 5 percent sales tax. The journal entry to record the sale will include Multiple Choice a debit to Cash for $2,625, a credit to Sales Tax Payable for $125 and a credit to Sales for $2,500. a debit to Accounts Recevable for $2,625 and a creda to Sales for $2,625 a debit to Cash for $2,500 and a credit to Sales for $2,500 a debit to Accounts Recevable for $2,500, a debit to Sales Tax Payable for $125 and a credt to Sales for $2,625
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