Author Question: Team Shirts sold 125 worth of T-shirts to a customer on credit. This transaction includes ________. ... (Read 290 times)

ec501234 · **on:** Jul 5, 2018

Team Shirts sold 125 worth of T-shirts to a customer on credit. This transaction includes ________.

A) an account receivable
B) an account payable
C) a prepaid sale
D) T-shirt expense

Question 2

Merchandise is sold for cash. The selling price of the merchandise is 6,000 and the sale is subject to a 7 state sales tax. The journal entry to record the sale would include a credit to
a. cash for 6,000
b. sales for 6,240
c. sales tax payable for 420
d. sales for 5,580