Stung, which is registered for the purposes of sales tax, bought furniture on credit terms at a cost of $8,000, plus tax of $1,200. What are the correct account entries to record this transaction? $ 2$ A Debit Furniture 9,200 Credit Supplier 9,200 В Debit Furniture 8,000 Credit Sales tax 1,200 Credit Supplier 6,800 Debit Furniture 8,000 Credit Supplier 9,200 Debit Sales tax 1,200 D Debit Furniture 8,000 Credit Supplier 8,000
Stung, which is registered for the purposes of sales tax, bought furniture on credit terms at a cost of $8,000, plus tax of $1,200. What are the correct account entries to record this transaction? $ 2$ A Debit Furniture 9,200 Credit Supplier 9,200 В Debit Furniture 8,000 Credit Sales tax 1,200 Credit Supplier 6,800 Debit Furniture 8,000 Credit Supplier 9,200 Debit Sales tax 1,200 D Debit Furniture 8,000 Credit Supplier 8,000
Chapter16: Multistate Corporate Taxation
Section: Chapter Questions
Problem 42P
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