Multiple Choice
A cash register tape shows cash sales of $2,500 and sales taxes of $200. The journal entry to record this information is
A) Cash 2,700 Sales Revenue 2,700
B) Cash 2,700 Sales Tax Payable 200
Sales Revenue 2,500
C) Cash 2,500 Sales Tax Expense 200
Sales Revenue 2,700
D) Cash 2,700 Sales Revenue 2,500
Sales Tax Revenue 200
Correct Answer:

Verified
Correct Answer:
Verified
Q22: When a bond sells at a discount
Q38: A method of amortizing bond discount or
Q66: Bonds with a face value of $400,000
Q67: Oliver Company issued $800,000 of 6%, 5-year
Q70: The interest charged on a $250,000 note
Q72: On October 1, Sam's Painting Service borrows
Q74: On January 1, 2014, Michelin Company, a
Q75: The adjusted trial balance for Helton Corporation
Q76: Collins Company borrowed $750,000 from BankTwo on
Q205: Sales taxes collected by a retailer are