Gem Corp.had sales of $3,500 for cash.The state sales tax rate is 8.2%.What amount will be debited to the Cash account?

Name: Gem Corp.had sales of $3,500 for cash.The state sales tax rate is 8.2%.What amount will be debited to the Cash account?
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The total amount debited to the Cash account includes both the sales amount and the sales tax. The sales tax is 8.2% of $3,500, which is $287. Therefore, the total amount is $3,500 + $287 = $3,787.

Gem CorpHad Sales of $3,500 for Cash