Consider the following transactions of Gem Software: Mar. 31 Recorded cash sales of $160,000, plus sales tax of 8% collected for the state of New Jersey Apr. 6 Sent March sales tax to the state. Journalize the transactions for the company. Ignore cost of goods sold. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Mar. 31: Recorded cash sales of $160,000, plus sales tax of 8% collected for the state of New Jersey. (Prepare a single compound entry for this transaction.) Date Accounts and Explanation Debit Credit Mar. 31 Cash 135200 Sales Revenue 130000 Sales Tax Payable 5200 To record cash sales and the related sales tax. Choose from any list or enter any number in the input fields and then click Check