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please help with these accounting problems! thank you! afer to stay in Protected View Enable Editing 8. Sales taxes collected by a retailer are recorded

please help with these accounting problems! thank you! image text in transcribed
afer to stay in Protected View Enable Editing 8. Sales taxes collected by a retailer are recorded by A) crediting Sales Tax Revenue. B) debiting Sales Tax Expense. C) crediting Sales Taxes Payable. D) debiting Sales Taxes Payable. 9. A company receives $264, of which $24 is for sales tax. The journal entry to record sale would include a A) debit to Sales Taxes Expense for $24. B) credit to Sales Taxes Payable for $24. C) debit to Sales Revenue for $264. D) debit to Cash for $240. 10. A retail store credited the sales Revenue account for the sales price and the amount sales tax on sales. If the sales tax rate is 5% and the balance in the Sales Revenue account amounted to $630,000, what is the amount of the sales taxes owed to the tax agency? A) $600,000 B) $630,000 C) $31,500 D) $30,000 11. On January 1, 2017, Ermler Company, a calendar-year company, issued $2,000,000 of notes payable, of which $500,000 is due on January 1 for each of the next four years. The proper balance sheet presentation on December 31, 2017, is A) Current liabilities, $2,000,000. B) Long-term debt. $2,000,000 C) Current liabilities, $500,000; Long-term Debt, $1,000,000. D) Current liabilities, $500,000; Long-term Debt, $1,500,000 12. Morgan Company does not ring up sales taxes separately on the cash register. Total receipts for February amounted to $38.160. If the sales tax rate is 6%, what amount must be remitted to the state for February's sales taxes? A) $2,290 B) $2,160 C) $2.152 D) It cannot be determined

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