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Author Question: Team Shirts sold 125 worth of T-shirts to a customer on credit. This transaction includes ________. ... (Read 172 times)

ec501234

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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


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flexer1n1

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Reply #1 on: Jul 5, 2018
Answer to Question 1

A

Answer to Question 2

c


ec501234

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Reply 2 on: Jul 5, 2018
Great answer, keep it coming :)

pratush dev

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Reply 3 on: Yesterday
Excellent

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