Describe the transaction recorded. Cash 593.60 Sales Tax Payable 44.80 Sales 560.00 Credit Card Expense 11.20 (Select all your answers.) Sold merchandise for cash, plus sales tax. Purchased goods plus freight. Company deposited cash from the sale. Customer paid by bank credit card. Discount charged by bank to the seller. Interest credited by the bank.

Describe the transaction recorded. Cash 593.60 Sales Tax Payable 44.80 Sales 560.00 Credit Card Expense 11.20 (Select all your answers.) Sold merchandise for cash, plus sales tax. Purchased goods plus freight. Company deposited cash from the sale. Customer paid by bank credit card. Discount charged by bank to the seller. Interest credited by the bank.

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter10: Cash Receipts And Cash Payments

Section: Chapter Questions

Problem 2QY: What is the entry to record the cash received on a sale of 500, credit terms 1/15, n/30, if the...

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Question

Describe the transaction recorded.

Cash
593.60

Sales Tax Payable
	44.80

Sales
	560.00

Credit Card Expense
11.20

(Select all your answers.)

Sold merchandise for cash, plus sales tax.

Purchased goods plus freight.

Company deposited cash from the sale.

Customer paid by bank credit card.

Discount charged by bank to the seller.

Interest credited by the bank.

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