Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

QUESTION 22 Which of the following would be included in the journal entry to record the payment of sales tax payable? A) a debit to

image text in transcribed
QUESTION 22 Which of the following would be included in the journal entry to record the payment of sales tax payable? A) a debit to Sales Tax Payable B) a credit to Sales Tax Expense C) a debit to Sales Tax Expense D) a credit to Sales Tax Payable QUESTION 23 Which of the following accounts is credited by the seller when tax is collected on retail sales? A) Accounts Payable B) Payroll Tax C) Sales Tax Payable D) Unearned Revenue QUESTION 24 Mars Company had cash sales of $10,000. The state sales tax rate is 10.896. What amount is debited to the Cash account? A) $10,000 B) $11,080 OC) $1080 D) $1000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Consolations Of Economics How We Will All Benefit From The New World Order

Authors: Gerard Lyons

1st Edition

0571307795, 9780571307791

More Books

Students also viewed these Accounting questions

Question

What are employee assistance programs and wellness programs?

Answered: 1 week ago