Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. how would "sales tax amount" be handled when recor

How would "Sales tax amount" be handled when recording transactions? a) The sales tax amount...

60.1K

Verified Solution

Question

Accounting

How would "Sales tax amount" be handled when recording transactions?

a) The sales tax amount would decrease accounts receivable.

b) The sales tax amount would not need to be recorded.

c) The sales tax amount would be recorded as a short-term liability.

d) The sales tax amount would increase total sales revenue.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

C++ Please For this assignment, you will write a program that lets the user play against the...

Programming
Q

1 Before biopharming technology became available human proteins used in treatment of diseases were a...

Biology
Q

A substance registers a temperature change from 20.5 C to 40.2 C. To what incrementaltemperature...

Physics
Q

For the following exercises assume a is opposite side a is opposite side b and...

Geometry
Q

Department R had 4 800 units in work in process that were 78 completed as...

Basic Math
Q

1 19 18 17 16 15 14 1312 11 10 9 8 7 6 5...

Calculus
Q

Question 19 4 p Rockin' Robin Industries is a division of...

Accounting
Q

Why are adjusting entries needed? What accounting concepts require thatadjusting entries be employed? For each...

Accounting
Q

I want a detailed solution, not instructions and explanations " The Case ...

Accounting
Q

Q.1 Rooney Corporation produces products that it sells for $18 each. Variable costs per unit...

Accounting
Q

HIA 2. MBA 582 Hand-in-assignment 2 - Summer 2018 Answer...

Accounting
Q

Country: Canada Assume you invested $100,000 in a balanced mutual fund 5 years ago through...

Finance