Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. sales revenue for a sporting goods store amounted

Sales revenue for a sporting goods store amounted to $539,000 for the current period. All...

90.2K

Verified Solution

Question

Accounting

Sales revenue for a sporting goods store amounted to $539,000 for the current period. All sales are on account and are subject to a sales tax of 11%. Which of the following would be included in the journal entry to record the sales transaction?

A.

a debit to Sales Revenue for $539,000

B.

a credit to Accounts Receivable for $539,000

C.

a debit to Sales Tax Payable for $59,290

D.

a debit to Accounts Receivable for $598,290

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

What are the most important factors to consider when preparing research findings? Please cite your source if...

Psychology
Q

explain why some people might have difficult time working withe people who are different from them....

Psychology
Q

Match each statement with a group of plants.Angiosperms - 1. the simplest plantsMosses - 2....

Biology
Q

rough ducts are classified as ceruminous sebaceous exocrine endocrine Question 13 2 points Listen their...

Biology
Q

The sides of AABC are a, b, and c. If the lengths of a =...

Basic Math
Q

For the data shown above find the following Round answer in the first blank to...

Statistics
Q

termine the metric unit that would bes oose the correct answer below Millimeters

Algebra
Q

The three most common cost behavior classi ficati ons are a. variable costs,...

Accounting
Q

Please show all calculations. 16. Adrianka reports the following income and loss in the...

Accounting
Q

Standard Direct Materials Cost per Unit from Variance Data The following data relating to direct...

Accounting
Q

Data concerning a recent period's activity in the Prep Department, the first processing department in...

Accounting
Q

Cul de las siguientes afirmaciones no es correcta en relacin con la Ley Sarbanes-Oxley? ...

Accounting