Texts: Which of the following is an element of the journal entry to account for a purchase of merchandise on account?
a) a debit to accounts payable.
b) a credit to freight in.
c) a credit to sales.
d) a debit to purchases.
Kay Sadia sold merchandise for $15,200 subject to a 7% sales tax. The entry in the sales journal will include a credit to Sales tax payable for
a) $1,064.00
b) $15,200.00
c) $16,264.00
d) $14,136.00