Multiple Choice
A company receives $200 for a sale,of which $8 is for sales tax and $12 is for excise tax.The journal entry to record the sale is:
A) Cash 180
Sales 180
B) Excise Tax expense 12
Sales Tax expense 8
Cash 180
Sales 200
C) Sales 200
Cash 200
D) Cash 200
Sales Tax Payable 8
Excise tax payable 12
Sales 180
Correct Answer:
Verified
Correct Answer:
Verified
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