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 tax payable 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 tax payable for
Brand: Quizplus
Rating: 4.9 (48 reviews)

Question

Quizplus · Accepted Answer

The sales tax is calculated as 7% of the merchandise sold which is:
$15,200 x 0.07 = $1,064
Therefore, the entry in the sales journal will include a credit to Sales tax payable for $1,064.

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