On Deck Sports Memorabilia store sells a Babe Ruth rookie card for $3,100 on account. If the sales tax on the sale is 5%, the journal entry to record the sale would include: Multiple Choice a debit to Accounts Receivable for $3,255 a debit to Sales Tax Payable for $155 a debit to Sales for $3,100 a credit to Sales for $3,255

On Deck Sports Memorabilia store sells a Babe Ruth rookie card for $3,100 on account. If the sales tax on the sale is 5%, the journal entry to record the sale would include: Multiple Choice a debit to Accounts Receivable for $3,255 a debit to Sales Tax Payable for $155 a debit to Sales for $3,100 a credit to Sales for $3,255

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 3EA: Consider the following transaction: On March 6, Fun Cards sells 540 card decks with a sales price of...

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