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Merchandise is sold for cash. The selling price of the merchandise is $1,500 and the sale is subject to a 5% state sales tax. The
Merchandise is sold for cash. The selling price of the merchandise is $1,500 and the sale is subject to a 5% state sales tax. The journal entry to record the sale would include a credit to Oa. Sales Tax Payable for $90 Ob. Cash for $1,500 Oc. Sales for $1,590 Od. Cash for $1,590
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