Sales for the year were $142,000, of which 90% were for cash. State sales tax of 6% applied to all sales must be remitted to the state by January 31. Activity Accounts statement(s) How does this entry affect the accounting equation? If a financial statement item is not affected, select "No Entry" and leave the amount box blank. If the effect on a financial statement item is negative, i.e, a decrease, be sure to enter the answer with a minus sign