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On Deck Sports Memorabilia store sells a Babe Ruth rookie card for $4,200 on account. If the sales tax on the sale is 8%, what
On Deck Sports Memorabilia store sells a Babe Ruth rookie card for $4,200 on account. If the sales tax on the sale is 8%, what is the amount debited to Accounts Receivable? Multiple Choice $3,864 $4,536 $4,192 $4,200 A retailer recorded the following in June: cash sales $3,100; credit sales, $5,000; sales returns and allowances, $1,000. Assuming the sales tax rate is 5 percent, the entry to record the sales tax payment includes a debit to Sales Tax Payable for: Multiple Choice $250. $405 $200. O s3ss. Hour Place Clock Shop sold a grandfather clock for $2,360 subject to a 9% sales tax. The entry in the sales journal will include a debit to Accounts Receivable for (Round your answers to two decimal places.) Multiple Choice $2,622.00. $2,360.00. $2,572.40. $2,14760 A wholesale business sells goods with a list price of $940 and a trade discount of 30 percent. The net price is: Multiple Choice $282.00. $658.00. $940.00. $970.00. Hour Place Clock Shop sold a grandfather clock for $2,260 subject to a 7% sales tax. The entry in the sales journal will include a credit to Sales for Multiple Choice $2,260.00 $2,101.80. $2,511.00. $2,418.20
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