Flaherty Co. operates in a state where the sales tax rate is 6%. During August,...
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Accounting
Flaherty Co. operates in a state where the sales tax rate is 6%. During August, Flaherty generated cash sales of $265,000, including sales tax. Flaherty's journal entry to record these sales would include a ____________ (note: all amounts are rounded to the nearest dollar).
| $15,900 credit to sales taxes payable. | ||
| $15,000 credit to sales taxes payable. | ||
| $265,000 credit to sales revenue. | ||
| $249,100 credit to sales revenue. |
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