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On June 1, 2021 Exit Company sold merchandise on account to Walmart Inc. for $26,500 including 6% sales taxes. On June 30, Exit Company remits
On June 1, 2021 Exit Company sold merchandise on account to Walmart Inc. for $26,500 including 6% sales taxes. On June 30, Exit Company remits the sales taxes to the government. Sales Taxes amount is: $26,500 $25,000 O $1,500 O $1,590 O None of the above Total amount to be received is: $26,500 $25,000. O $1,500 O $1,590. O None of the above June 1, 2021 record entry will include: Credit Sales Taxes Payable $1,590. O Debit Accounts Receivable $25,000 Credit Sales Revenue $25,000. O Debit Sales Taxes Payable $1,500 None of the above
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