Question 1 (1 point) A merchandise business receives $57,240 in total cash receipts from sales, that include a 6% Sales Tax. To record the sales, the business: Credits Sales for $60,674.40 Credits Sales Tax Payable for $3,240 Credits Sales for $57,240 Credits Sales tax payable for $3,434.40 Question 3 (1 point) On November 25, ATX Company signed a 120-day, 8% Notes Payable with a face value of $9,000 in exchange of money borrowed. If ATX Company's accounting period ends on December 31, the journal entry prepared by ATX to repay the Note would include: A debit to Interest Payable for $168 A debit to Interest Expense for $168 A credit to Interest Payable for $168 A credit to Cash for $ 9,168 Question 7 (1 point) Which of the following statements is not applicable to Unearned Revenues? Collections from Customers in advance Are also known as Deferred Revenues Amounts to be received in the future for products or services provided in the current period Amounts received in the current period for products or servives to be delivered in future periods. Question 9 (1 point) Which of the following are mandatory withholdings from an employee's paycheck to determine Net Pay? FICA taxes, Employee Federal State and Local Income taxes FICA taxes, Employee Federal State and Local taxes, Medical Insurance premiums and Retirement Plan contributions. FICA taxes FICA taxes, FUTA and SUTA taxes, Employee Federal State and Local Income taxes