Help me selecting the right answer. Thank you Jackson Company pays the collected sales tax of $700 to the state. The journal entry would be:Sales Tax Payable700CashCashSales Tax PayableSales Tax ExpenseCashCashSales Tax Expense700700700700700700700

Collected sale tax = 700 For collection journal entry will be Cash a/c Dr…

Jackson Company pays the collected sales tax of $700 to the state. The journal entry would be: O Sales Tax Payable 700 Cash Cash Sales Tax Payable Sales Tax Expense Cash Cash Sales Tax Expense 700 700 700 700 700 700 700

Jackson Company pays the collected sales tax of $700 to the state. The journal entry would be: O Sales Tax Payable 700 Cash Cash Sales Tax Payable Sales Tax Expense Cash Cash Sales Tax Expense 700 700 700 700 700 700 700

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 6Q: What amount is payable to a state tax board if the original sales price is $3,000, and the tax rate...

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Help me selecting the right answer. Thank you

Jackson Company pays the collected sales tax of $700 to the state. The journal entry would be:
Sales Tax Payable
700
Cash
Cash
Sales Tax Payable
Sales Tax Expense
Cash
Cash
Sales Tax Expense
700
700
700
700
700
700
700

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