C ezto.mheducation.com/hm.tpx value: 1.00 points During December, Far West Servi

Question

C ezto.mheducation.com/hm.tpx value: 1.00 points During December, Far West Services makes a $4,400 credit sale. The state sales tax rate is 6% and the local sales tax rate is 2.5%. Record sales and sales tax payable. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the sale. Note: Enter debits before credits. Transaction General Journal Debit Credit Accounts receivable Sales tax payable 374 les revenue Record entry Clear entry View general journal

Explanation / Answer

1. If the credit sales exclusive sales tax both local and state then following is the answer.

Accounts Recivable. $4774

Sales tax payable. $ 374

Sales revenue. $ 4400

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