A cash register tape shows cash sales of $5240 and sales taxes of $330. The journal entry to record this information is CashSales Tax ExpenseSales RevenueCashSales RevenueSales Taxes PayableCashSales Tax RevenueSales RevenueCashSales Revenue52403305570557055705570524033033052405570

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Description: A cash register tape shows cash sales of $5240 and sales taxes of $330. The journal entry to record this information is CashSales Tax ExpenseSales RevenueCashSales RevenueSales Taxes PayableCashSales Tax RevenueSales RevenueCashSales Revenue52403305

Sales tax is a form of indirect tax.The buyer pays for the goods purchased and this includes the…

Answered: A cash register tape shows cash sales…

Business

Accounting

A cash register tape shows cash sales of $5240 and sales taxes of $330. The journal entry to record this information is

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter6: Bank Accounts, Cash Funds, And Internal Controls

Section: Chapter Questions

Problem 7E

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