Sales Tax Payable is a: liability account with a credit balance. contra-asset account with a credit balance. contra-asset account with a debit balance. liability account with a debit balance. QUESTION 32 Merchants who buy goods from wholesalers for resale to customers are: merchandisers. retailers. service companies. None of the above is correct. QUESTION 33 The accounts receivable subsidiary ledger: is organized in alphabetical order. is not kept in the same book as Accounts Receivable. should equal the controlling account in the general ledger. All of the above are correct