Question
On June 30, Jones Company owes and pays a total of $850 of sales taxes to the state. The journal entry to record the payment
On June 30, Jones Company owes and pays a total of $850 of sales taxes to the state. The journal entry to record the payment of sales taxes would include which of the following?
A credit to Sales Taxes Payable for $850
A debit to Cash for $850
A debit to Sales Taxes Payable for $850
A debit to Sales Tax Expense for $850
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Managerial Accounting Tools For Business Decision Making
Authors: Weygandt, Kimmel, Kieso
4th Edition
0470478535, 978-0470478530
