Entry to record the receipt
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Company has total cash register receipts of $6,825. This total includes a 5% sales tax. The entry to record the receipts will include a
a. debit to Sales Tax Expense for $325.
b. credit to Sales for $6,000.
c. credit to Sales Taxes Payable for $825.
d. credit to Sales Taxes Payable for $325
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Solution Summary
The solution explains the journal entry to record the cash receipt.
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