Question
Which of the following would be included in the journal entry to record the payment of sales tax payable?
Question content area bottom
Part 1
A.
a debit to Sales Tax Payable
B.
a credit to Sales Tax Payable
C.
a debit to Sales Tax Expense
D.
a credit to Sales Tax Expense
Question content area bottom
Part 1
A.
a debit to Sales Tax Payable
B.
a credit to Sales Tax Payable
C.
a debit to Sales Tax Expense
D.
a credit to Sales Tax Expense
Answers
There are no human answers yet.
Answered by
GPT-4o mini
To record the payment of sales tax payable, the correct journal entry would involve reducing the liability account for the sales tax that was previously collected and reported.
The appropriate entry would be:
A. a debit to Sales Tax Payable
So the journal entry would be:
- Debit: Sales Tax Payable
- Credit: Cash (or Bank)
This reflects the payment of the sales tax liability. Therefore, the answer is:
**A. a debit to Sales Tax Payable**.
The appropriate entry would be:
A. a debit to Sales Tax Payable
So the journal entry would be:
- Debit: Sales Tax Payable
- Credit: Cash (or Bank)
This reflects the payment of the sales tax liability. Therefore, the answer is:
**A. a debit to Sales Tax Payable**.
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