On March 15, Nexto Inc. sells $20,000 of merchandise to a customer. The sales tax rate is 9% and the customer pays with cash. What journal entry should the company make to record this sale? What effect does this entry have on the accounting equation? In April. Nexto Inc. must pay the sales tax it has collected to the state taxing agency. The company owes $14, 200 from sales tax in the month of March. What journal entry does the company make to record the April payment to the state taxing agency? What effect does this entry have on the accounting equation