anarnoor9040 anarnoor9040

16-12-2022
Social Studies

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Cantrell Company is required by law to collect and remit sales taxes to the state. If Cantrell has $8,000 of cash sales that are subject to an 8% sales tax, what is the journal entry to record the cash sales?Debit Cash $8,640Credit Sales $8,000Credit Sales Taxes Payable $640

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