Question

A cash register tape shows cash sales of $3,000 and sales taxes of $200. The journal entry to record this information is:_________

A) Cash 3, 200 Sales Revenue 3, 200
B) Cash 3, 200 Sales Tax Payable 200 Sales Revenue 3,000
C) Cash 3,000 Sales Tax Expense 200 Sales Revenue 3, 200
D) Cash 3, 200 Sales Revenue 3000 Sales Taxes

Answer 1

B) Cash 3, 200 Sales Tax Payable 200 Sales Revenue 3,000

Step-by-step explanation:

The journal entry is shown below:

Cash $3,200

To Sales tax payable $200

To Sales revenue $3,000

(Being the sales and sales tax is recorded)

For recording this we debited the cash as it increased the assets and credited the sales tax payable and sales revenue as it also increased the liabilities and revenue

Therefore, option B is correct