Suppose that the sales invoice shows that the gross sales are $13,920 and the sales tax rate is 0.16. the sales revenues account is ------.

Select one:

a. $16,146.

b. $13,920.

c. $12,000.

d. $16,400.

Clear my choice

On September 1, 2020, X Company reacquired 30,000 shares of its $10 par value common stock for $15 per share. X uses the cost method to account for treasury stock. The journal entry to record the reacquisition of the stock should debit

Select one:

a. Common Stock for $500,000.

b. Common Stock for $300,000.

c. treasury Stock for $300,000.

d. Treasury Stock for $450,000.

Clear my choice