6) FEC LLC. made sales of $10,000 plus sales tax at 20% to a customer. CUSTOMER

Question

6) FEC LLC. made sales of $10,000 plus sales tax at 20% to a customer. CUSTOMER JONES paid 80% of the total liability in cash and agreed to pay the remaining after 15 days. Choose the correct journal entry to record this transaction Dr: Cash $8,000 Dr: Accounts receivable $2,000, Cr: Sales $10,000 Dr: Cash $9,600 Dr: Accounts receivable $2.400, Cr: Sales $10,000 Cr: Sales tax payable $2.000 O Dr: Cash $9,600 Dr: Accounts receivable $2,400, Cr: Sales $12.000 O Dr: Cash $8,000 Dr: Accounts receivable $2.000, Cr: Sales $8,000 Cr: Sales tax payable $2.000

Explanation / Answer

Answer is B

General Journal Debit Credit Cash $9,600 Accounts receivable $2,400 Sales $10,000 Sales tax payable $2,000

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