Multiple Choice
Don's Pharmacy has collected $600 in sales taxes during March. If sales taxes must be remitted to the state government monthly, what entry will Don's Pharmacy make to show the March remittance?
A) Sales Tax Expense 600 Cash 600
B) Sales Taxes Payable 600 Cash 600
C) Sales Tax Expense 600 Sales Taxes Payable 600
D) No entry required.
Correct Answer:
Verified
Correct Answer:
Verified
Q76: Neither corporate bond interest nor dividends are
Q87: On June 1, Huntley Company borrows $50,000
Q90: The following totals for the month of
Q90: Current liabilities are expected to be paid
Q94: Winrow Company received proceeds of $565,500 on
Q95: McDonald's financial statements contain the following selected
Q96: In a recent year Hart Corporation had
Q119: Liabilities are classified on the balance sheet
Q158: When a monthly mortgage payment is made
Q211: A current liability is a debt that