Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. abc jewelry sells a $5,000 bracelet and collects 6

ABC Jewelry sells a $5,000 bracelet and collects 6% sales tax. The company will record:...

50.1K

Verified Solution

Question

Accounting

ABC Jewelry sells a $5,000 bracelet and collects 6% sales tax. The company will record:

Select one:

a.

Sales Revenue of $5,000.

b.

Sales Revenue of $5,000 and Sales Tax Revenue of $300.

c.

Sales Revenue of $5,300.

d.

Sales Revenue of $5,000 and Sales Tax Expense of $300.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Finance
1.2K views

If Wild Widgets, Inc., were an all-equity company, it would have a beta of .90. The...

Psychology
1.2K views

Describe the Pyramid System Training Routine and give an example with a Flat Bench Press?

Statistics
1.2K views

10 Use the following data set to answer the question 15 20 39 27 33...

Calculus
1.2K views

Graph the hyperbola 25 10 12 14 XOB X

Accounting
1.2K views

Juno Co. issues a 90 day note for $100.000 to Thor Co. for merchandise inventory...

Accounting
1.2K views

PLEASE ANSWER ALL OF THE REQUIREMENTS WITH EXPLANATION FOR A THUMBS UP! Radiance...

Accounting
1.2K views

The production manager of Rordan Corporation has submitted the following quarterly production forecast for the...

Accounting
1.2K views

Blue Company produces Trivets. Based on its master budget, the company should produce 13,000 Trivets...

Accounting
1.2K views

according to ian redpath, under the CARES ACT, Required minimum distributions from qualified plans for...

Accounting
1.2K views

Three advantages of owning a sole proprietorship Unification of ownership and management. ...

Accounting
1.2K views

5. For 2022, Lail Company reports beginning total assets of $100 million and ending total...

Finance
1.2K views

topics related to finance for research (emoirical study). please give topics that have not been...