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UMET Copies includes the amount of sales taxes collected directly in the price charged for merchandise, and the total amount is credited to Sales. During
UMET Copies includes the amount of sales taxes collected directly in the price charged for merchandise, and the total amount is credited to Sales. During January, Sales was credited for $318,000. The January 31 adjusting entry to account for a 6% state sales tax would be
a. Sales 18,000
Sales Taxes Payable 18,000
b. Sales Tax Expense 18,000
Sales Taxes Payable 18,000
c. Sales 19,080
Sales Taxes Payable 19,080
d. Sales Tax Expense 19,080
Sales Taxes Payable
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