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Question 4 1 points Save Answer Seef trading Company is required by law to collect and remit sales taxes to the government. If the company
Question 4 1 points Save Answer Seef trading Company is required by law to collect and remit sales taxes to the government. If the company has $ 8,000 of cash sales that are subject to an 8% sales tax, what is the journal entry to record the cash sales? O A. Debit Cash $ 8,000; credit Sales $ 7,360; credit Sales Taxes Payable $ 640. O B. Debit Cash $ 8,640; credit Sales $ 8,000; credit Sales Taxes Payable $ 640. C. Debit Cash $ 8,000; credit Sales $ 8,000; and record the taxes when paid. D. Debit Sales Taxes Payable $ 640; debit Cash $ 7,360; credit Sales $ 8,000
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