For a sale of $300, on which 8 percent sales tax is charged, the amount debited to Accounts Receivable is $324.

Name: For a sale of $300, on which 8 percent sales tax is charged, the amount debited to Accounts Receivable is $324.
Brand: Quizplus
Rating: 4.7 (60 reviews)

Question

Quizplus · Accepted Answer

The amount debited to Accounts Receivable in this case would be the total amount of the sale, including sales tax.

So, if the sale amount is $300 and 8% sales tax is charged, the total amount would be:

$300 + (8% of $300) = $300 + $24 = $324

Therefore, the statement is true.

For a Sale of $300, on Which 8 Percent Sales