Which of the following represents the impact of a taxable cash sale of $$1,120$ on the accounting equation if the sales tax rate is $5\%?$

Multiple Choice

An increase to cash for $$1,176,$ an increase to sales tax expense for $$56,$ and an increase to sales revenue for $$1,120.$

An increase to cash for $$1,120,$ an increase to sales tax payable for $$56,$ and an increase to sales revenue for $$1,064.$

An increase to cash for $$1,176,$ an increase to sales tax payable for $$56,$ and an increase to sales revenue for $$1,120.$

None of these answer choices is correct.