Homework Answers
Sales revenue = $3,200
Sales tax = 6%
Hence, sales tax payable = Sales revenue x Sales tax rate
= 3,200 x 6%
= $192
The journal entry for sale transaction would be as under:
| Cash | 3,392 | ||
| Sales | 3,200 | ||
| Sales tax payable | 192 |
Correct option is (b)
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