Aviation Holdings Corporation's sales for the day totalled $10,552.Jensen collected an additional 5% in sales tax.The entry to record the day's sales includes a:
A) debit to Sales Tax Expense
B) debit to Sales Tax Payable
C) credit to Sales Tax Expense
D) credit to Sales Tax Payable
Correct Answer:
Verified
Q3: Short-term notes payable:
A) are generally due within
Q4: A repair to an appliance under warranty
Q5: Dreams Take Flight Ltd.includes the sales tax
Q9: On December 16,2016,the ACE Corporation purchases $15,000
Q10: Current liabilities are obligations due within:
A) one
Q11: Accrued interest on a short-term note payable
Q47: An accrued expense is an expense incurred
Q52: Potential liabilities that depend on future events
Q52: The account Sales Tax Payable represents a
Q71: The adjusting entry to accrue interest on
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents