Multiple Choice
Metropolitan Masonry had sales on account of $7,200 which were subject to state sales tax of 7%.The entry to record the sales would be to:
A) debit Accounts Receivable,$7,704;credit Sales revenue,$7,200;credit Sales tax payable,$504.
B) debit Accounts Receivable,$7,704;credit Sale revenue,$7,704.
C) debit Accounts Receivable,$7,200;credit Sales revenue,$7,200.
D) debit Accounts Receivable,$7,200;debit Sales tax payable,$504;credit Sales revenue,$7,704.
Correct Answer:
Verified
Correct Answer:
Verified
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