Business, 06.12.2019 01:31, kps26pd2mea

Cantrell company is required by law to collect and remit sales taxes to the state. if cantrell has $8,500 of cash sales that are subject to an 7% sales tax what is the journal entry to record the cash sales?
a) debit cash $8,500, credit sales $7.905: credit sales taxes payable $595.
b) debit sales taxes payable $595; debit cash $7.905: credit sales $8,500.
c) debit cash $9,095 credit sales $8,500; credit sales taxes payable $595
d) debit accounts receivable $9,095; credit sales $8.500; credit sales taxes payable $595.
e) debit cash $8,500, credit sales $8.500; and record the taxes when paid.

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Cantrell company is required by law to collect and remit sales taxes to the state. if cantrell has $...