A company records sales tax at the time a sale is made. In October, company...
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A company records sales tax at the time a sale is made. In October, company sales were $34,000. The sales tax rate is 8.1% Which entry should the company use to record the sales and related sales tax?
O Debit sales revenue $31,452, debit sales taxes payable $2,548, credit cash $34,000
O Debit cash $36,754, credit sales revenue $34,000, credit sales taxes payable $2,754
O Debit sales revenue, $34,000, debit sales taxes payable $2,754, credit cash $36,754
O Debit cash $34,000, credit sales revenue $31,452, credit sales taxes payable $2,548
A company issues $10,000,000 in 10-vear bonds at a 6% interest rate. paid annually. On the date of issue, the bonds sold for $10 500.000 At which value were the bonds issued!
O Par
O Premium
O Face value
O Discount
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