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The March 25 cash register reading for Cooley Grocery shows sales of $10,000 and sales taxes of $600 (sales tax rate of 6%), the journal
The March 25 cash register reading for Cooley Grocery shows sales of $10,000 and sales taxes of $600 (sales tax rate of 6%), the journal entry is: on Fin O a. Debit Accounts receivable 10,600 and credit both Sales revenue 10,000 and Sales tax payable 600 O b. Debit Accounts receivable 10,000 and credit both Sales revenue 9,400 and Sales tax payable 600 . Debit Cash 10,600 and credit both Sales revenue 10,000 and Sales tax payable 600 O d. Debit Cash 10,000 and credit both Sales revenue 9,400 and Sales tax payable 600
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