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Santa Materials sold goods for $2,000 plus 2% sales tax to a charge customer, terms n/30. Which entry is required to record this transaction? A.
Santa Materials sold goods for $2,000 plus 2% sales tax to a charge customer, terms n/30. Which entry is required to record this transaction?
A.
Debit Accounts Receivable $2,000; credit Sales $2,000
B.
Debit Cash $2,000; credit Sales $2,000
C.
Debit Accounts Receivable $2,040; credit Sales Tax Payable $40; credit Sales $2,000
D.
Debit Accounts Receivable $2,040; credit Sales $2,040
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