Kay Sadia sold merchandise for $15,200 subject to a 7% sales tax. The entry in the sales journal will include a credit to Sales for

Name: Kay Sadia sold merchandise for $15,200 subject to a 7% sales tax. The entry in the sales journal will include a credit to Sales for
Brand: Quizplus
Rating: 4.7 (58 reviews)

Question

Quizplus · Accepted Answer

The credit to Sales will be for the full amount of merchandise sold, which is $15,200. The sales tax is not included in the credit to Sales, but rather is recorded separately in a liability account.

Kay Sadia Sold Merchandise for $15,200 Subject to a 7