Cardinal Company sells merchandise for $24,000 cash on March 31 (cost of merchandise is $12,300).The sales tax law requires Cardinal to collect 8.5% sales tax on every dollar of merchandise sold.Record the entry for the sale and its applicable sales tax.

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The Answer of Cardinal Company sells merchandise for $24,000 cash on March 31 (cost of merchandise is $12,300).The sales tax law requires Cardinal to collect 8.5% sales tax on every dollar of merchandise sold.Record the entry for the sale and its applicable sales tax.

Cardinal Company Sells Merchandise for $24,000 Cash on March 31