Sales revenue for a sporting goods store amounted to $526,000 for the current period. All sales are on account and are subject to a sales tax of 10%. Which of the following would be included in the journal entry to record the sales transaction?

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A: Sales tax on sale = $64,300*5% Sales tax on sale = $3,215

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Q: On July 5, Bramley Company recorded sales of merchandise inventory on account, $45,000. The sales…

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A: As per the given information:

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Q: Sales Tax A sale of merchandise on account for $17,400 is subject to a 7% sales tax. (a)  Should the…

A: Sales tax should be recorded at the time of sale.

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Q: On March 25, Osgood Company sold merchandise on account, $4,100, terms n/30. The applicable sales…

A: THANK YOU

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A:

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Q: Dextra Computing sells merchandise for $16,000 cash on September 30 (cost of merchandise is…

A: Sales tax = $16,000×7% = $1120