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A company receives $348, of which $28 is for sales tax. The journal entry to record the sale would include a
1. debit to Sales Taxes Payable for $28.
2. debit to Sales Revenue for $348.
3. debit to Cash for $348.
4. debit to Sales Taxes Expense for $28.

Respuesta :

jepessoa

Answer:

3) debit to Cash for $348.

Explanation:

The complete journal entries should be:

Dr Cash account 348

Cr Sales Revenue account 320

Cr Sales Taxes Payable account 28

Cash is an asset account and it increases, so it should be debited.

Sales revenue is a revenue account and it increases, so it should be credited.

Sales taxes payable is a liability and it increases, so it should be credited.