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Sales Revenue for a Sporting Goods Store Amounted to $525,000

Question 72

Multiple Choice

Sales revenue for a sporting goods store amounted to $525,000 for the current period. All sales are on account and are subject to a sales tax of 9%. Which of the following would be included in the journal entry to record the sales?


A) a debit to Sales Revenue for $525,000
B) a credit to Accounts Receivable for $525,000
C) a debit to Sales Tax Payable for $47,250
D) a debit to Accounts Receivable for $572,250

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