Question
Merchandise is sold for cash. The selling price of the merchandise is $2,400 and the sale is subject to a 6% state sales tax. The
Merchandise is sold for cash. The selling price of the merchandise is $2,400 and the sale is subject to a 6% state sales tax. The journal entry to record the sale would include a credit to
- a. Cash for $2,400
- b. Sales for $2,544
- c. Sales for $2,256
- d. Sales Tax Payable for $144
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Financial And Managerial Accounting
Authors: Jerry J Weygandt, Paul D Kimmel, Jill E Mitchell
4th Edition
1119752620, 978-1119752622
