In a sales journal used to record taxable sales,the total of the Accounts Receivable column should equal
A) the sum of the totals of the Sales Tax Payable column and the Sales column.
B) the difference between the total of the Sales Tax Payable column and the total of the Sales column.
C) the total of the Sales column.
D) the total of the Sales Tax Payable column.

Question

Quizplus · Accepted Answer

The total of the Accounts Receivable column should equal the sum of the totals of the Sales Tax Payable column and the Sales column because accounts receivable includes both the sales amount and the sales tax collected.

In a Sales Journal Used to Record Taxable Sales,the Total