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Rose Company receives $1,000 in cash, of which $20 is for sales tax. The journal entry to record the sale would include a: credit to
Rose Company receives $1,000 in cash, of which $20 is for sales tax. The journal entry to record the sale would include a: credit to Sales Tax Payable for $20. debit to Cash for $980. Odebit to Sales Tax Expense for $20. O credit to Sales for $1,000. Question 36 (2.5 points) On December 15, King Hardware sells a snow blower for $300 with a one-year warranty that covers parts. At year end, warranty expense is estimated to be 10% of sales. The adjusting journal entry to record the estimated warranty expense at year end would include a: debit to Sales Discounts and Allowances for $30. O credit to Repair Parts Inventory for $30. credit to Estimated Warranty Liability for $30. O credit to Warranty Expense for $30
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