Which of the following represents the impact of a taxable cash sale of $1,040 on the accounting equation if the sales tax rate is 5% ? Multiple Choice An increase to cash for $1,092, an increase to sales tax expense for $52, and an increase to sales revenue for $1,040 An increase to cash for $1.040, an increase to sales tax payable for $52, and an increase to sales revenue for $988 An increase to cash for $1,092, an increase to sales tax payable for $52, and an increase to sales revenue for $1040 None of these answer choices is correct