Test: Chapter 11 Test Time Remaining: 01:2903 SubmitT This Question: 3 pts 20f 1

Question

Test: Chapter 11 Test Time Remaining: 01:2903 SubmitT This Question: 3 pts 20f 15 (1 complete) This Test: 45 pts poss Consider the following transactions of Oyster Software: Mar. 31 Recorded cash sales of $140,000, plus sales tax of6% ciected for the state of New Jersey. rSent March sales tax to the state ournalize the transactions for the company. Ignore cost of goods sold. (Recond debits first, then credits. Select the eoxplanation on the last line of the journal entry table.) Mar. 31: Reoordedsh sales of$140,000, plus sales tax of 6% collected forthe state of New Jersey. (Prepare a sngecompound entry for this Accounts and Explanation Credit Mar. 31 Choose from any list or enter any number in the input fields and then continue to the next question Activity Details You have viowed this topic Last Visited Dec 3, 2017 11:20 PM Mac F1 F2 OOO F4 FS 2 4

Explanation / Answer

Date Accounts and Tittles Debit Credit Mar-31 Cash 148400      Sales 140000      Sales Tax 8400 6 April Sales Tax 8400      Cash 8400

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