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Super Store sells electronics and is located in a city that charges 7.5% sales tax on all purchases. On February 20, a customer pays cash
Super Store sells electronics and is located in a city that charges 7.5% sales tax on all purchases. On February 20, a customer pays cash for a TV from Super Store. Super Store collects $700 for the TV and $52.50 in sales tax. In a journal entry, the accountant for Super Store should debit __________ and credit Sales and Sales Tax Payable. Cash, Accounts Payable, Sales Discount, Accounts Receivable
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