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Smith Company paid $270 cash to settle its sales tax liability. Which of the following journal entries would be required to record the cash payment.
| Smith Company paid $270 cash to settle its sales tax liability. Which of the following journal entries would be required to record the cash payment. |
| Account Titles | Debit | Credit |
| Sales Tax Payable | 270 | |
| Cash | 270 |
| Account Titles | Debit | Credit |
| Sales Tax Expense | 270 | |
| Cash | 270 |
| Account Titles | Debit | Credit |
| Cash | 270 | |
| Sales Tax Payable | 270 |
| Account Titles | Debit | Credit |
| Cash | 270 | |
| Sales Tax Expense | 270 |
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Managerial Accounting
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
13th Edition
978-0073379616, 73379611, 978-0697789938
