Question
Sales revenue for a sporting goods store amounted to $539,000 for the current period. All sales are on account and are subject to a sales
Sales revenue for a sporting goods store amounted to $539,000 for the current period. All sales are on account and are subject to a sales tax of 11%. Which of the following would be included in the journal entry to record the sales transaction?
A.
a debit to Sales Revenue for $539,000
B.
a credit to Accounts Receivable for $539,000
C.
a debit to Sales Tax Payable for $59,290
D.
a debit to Accounts Receivable for $598,290
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Cost Accounting A Managerial Emphasis
Authors: Charles T. Horngren, Srikant M. Datar, Madhav V. Rajan
15th edition
978-0133428858, 133428850, 133428702, 978-0133428704
