Which of the following is an element of the journal entry to account for a purchase of merchandise on account? a). a debit to accounts payable. b). a credit to freight in c). a credit to sales d). a debit to purchases. Kay Sadia sold merchandise for $15,200 subject to a 7% sales tax. The entry in the sales journal will include a credit to Sales tax payable for a). $1,064.00 b). $ 15,200.00 c). $ 16,264.00 d). $ 14,136.00
Which of the following is an element of the journal entry to account for a purchase of merchandise on account? a). a debit to accounts payable. b). a credit to freight in c). a credit to sales d). a debit to purchases. Kay Sadia sold merchandise for $15,200 subject to a 7% sales tax. The entry in the sales journal will include a credit to Sales tax payable for a). $1,064.00 b). $ 15,200.00 c). $ 16,264.00 d). $ 14,136.00
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Which of the following is an element of the
a). a debit to accounts payable.
b). a credit to freight in
c). a credit to sales
d). a debit to purchases.
Kay Sadia sold merchandise for $15,200 subject to a 7% sales tax. The entry in the sales journal will include a credit to Sales tax payable for
a). $1,064.00
b). $ 15,200.00
c). $ 16,264.00
d). $ 14,136.00
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