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Kathy's Corner Store has total cash sales for the month of 534,000 excluding sales taxes....

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Kathy's Corner Store has total cash sales for the month of 534,000 excluding sales taxes. If the sales tax rate is 8%, which journal entry is needed? (ignore Cost of Goods Sold) O A. debit Cash 531 280. debit Sales Tax Receivable for $2.720 and credit Sales Revenue for $34.000 O B. debit Cash $36.720. Credit Sales Revenue $36.720 OC. debit Cash $34,000 and credit Sales Revenue 534,000 O D. debit Cash $36.720, credit Sales Revenue 534,000 and credit Sales Tax Payable 52,720

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