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Recording Sales Taxes Payable Cash sales for Zeviae Inc. in 2020 were $8 million. The majority of sales were subject to a sales tax rate

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Recording Sales Taxes Payable Cash sales for Zeviae Inc. in 2020 were $8 million. The majority of sales were subject to a sales tax rate of 6%. Zeviae records sales taxes payable at the point of sale. Required a. Record the sales and sales tax entry for 2020 assuming that $160,000 of sales were not subject to tax. b. Now assume that cash collections for 2020 amounted to $8 million, which included a 6% sales tax along with the sales amount. Of the amount collected, $160,000 of sales were not subject to tax. Record the sales and sales tax entry for 2020. Note: Round your answers to the nearest whole dollar. Note: List multiple debits or credits (when applicable) in alphabetical order. Account Name Dr. Cr. a. 0 . b. - ooooo 0 0 0

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