To enter a cash sale, the journal entry includes
A) debiting Sales, debiting Sales Tax Payable, and crediting Cash.
B) debiting Sales Tax Payable, debiting Cash, and crediting Sales.
C) debiting Sales, debiting Cash, and crediting Sales Tax Payable.
D) debiting Cash, crediting Sales, and crediting Sales Tax Payable.
Correct Answer:
Verified
Q38: While sales returns and allowances can be
Q39: To a seller, cash discounts are considered
Q40: A summary accounts receivable account is called
Q41: Match the terms with the definitions.
-Merchandise returned
Q42: During the month of September, the
Q44: Match the terms with the definitions.
-A transfer
Q45: Match the terms with the definitions.
-A document
Q46: Match the terms with the definitions.
-A summary
Q47: A common approach to keeping a record
Q48: Merchandise is sold on account for $90,
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