omputer system to a customer for $500 in PA where the sales tax is 6%. The customer pays cash of $530 to Best Buy. The store records $500 sales revenue and sales tax expense of $30. Group of answer choices

omputer system to a customer for $500 in PA where the sales tax is 6%. The customer pays cash of $530 to Best Buy. The store records $500 sales revenue and sales tax expense of $30. Group of answer choices

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Best Buy stores sells a computer system to a customer for $500 in PA where the sales tax is 6%. The customer pays cash of $530 to Best Buy. The store records $500 sales revenue and sales tax expense of $30.

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