Vall Book Mart sells books and other supples to students in a state where the sales tax rate is 8 percent Vail Book Mart engaged in the following transactions for Year 1. Sales tax of 8 percent is collected on all sales 1 Book sales, not including sales tax, for Year 1 amounted to $276,000 cash 2. Cash sales of miscellaneous items in Year 1 were $152.000, not including tax. 3. Cost of goods sold was $210,000 for the year 4. Paid $130,000 in operating expenses for the year 5. Pald the sales tax collected to the state agency Required a. What is the total amount of sales tax Vail Book Mart collected and paid for the year? entry b. Prepare the journal entries for the preceding transactions. of no entry is required for a transactionvevent, select "No journal required" in the first account field.) Journal entry worksheet Book sales, not including sales tax, for Year 1 amounted to $276,000 cash Note Enter debits before cradite Credit