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Which of the following represents the correct journal entry to record a taxable cash sale of $400 if the sales tax rate is 5% ?

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Which of the following represents the correct journal entry to record a taxable cash sale of $400 if the sales tax rate is 5% ? Muitiple Choice A debit to cash for $420, a debit to swles tax expense for $20, and a credit to soles revenue for $400. A debin to cash for $400, a credit to sales tax payoble for $20, and a credit to sales revenue for $3a0 A debit to cash for $420, a credi to sales tax poyable for $20, and a credt to sales revenue for $400 None of these answer choices are correct

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