A company receives $396, of which $36 is for sales tax. The journal entry to record the sale wouldinclude aSelect one:a. debit to Cash for $360.b. debit to Sales Tax Expense for $36.C. credit to Sales Taxes Payable for $63.d. The answer does not existe. debit to Sales Revenue for $396,Previous pageNext page Carey Company buys land for $50,000 on 31/12/2016 . As of 31/3/2017, the land has appreciatedin value to $50,700. On 31/12/2017, the land has an appraised value of $51,800. By what amountshould the Land account be increased in 2017?Select one:a. $1,100b. $700C. $0d. $1,800e. The answer does not exist

A company receives $396, of which $36 is for sales tax. The journal entry to record the sale would include a Select one: a. debit to Cash for $360. b. debit to Sales Tax Expense for $36. C. credit to Sales Taxes Payable for $63. d. The answer does not exist e. debit to Sales Revenue for $396.

A company receives $396, of which $36 is for sales tax. The journal entry to record the sale would include a Select one: a. debit to Cash for $360. b. debit to Sales Tax Expense for $36. C. credit to Sales Taxes Payable for $63. d. The answer does not exist e. debit to Sales Revenue for $396.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter11: Long-term Assets

Section: Chapter Questions

Problem 8PA: Referring to PA7 where Kenzie Company purchased a 3-D printer for $450,000, consider how the...

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Question

A company receives $396, of which $36 is for sales tax. The journal entry to record the sale would
include a
Select one:
a. debit to Cash for $360.
b. debit to Sales Tax Expense for $36.
C. credit to Sales Taxes Payable for $63.
d. The answer does not exist
e. debit to Sales Revenue for $396,
Previous page
Next page

Carey Company buys land for $50,000 on 31/12/2016 . As of 31/3/2017, the land has appreciated
in value to $50,700. On 31/12/2017, the land has an appraised value of $51,800. By what amount
should the Land account be increased in 2017?
Select one:
a. $1,100
b. $700
C. $0
d. $1,800
e. The answer does not exist

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