Carl's Video includes the amount of sales taxes collected directly in the price charged for merchandise, and the total amount is credited to Sales. During January, Sales was credited for $239,680. The January 31 adjusting entry to account for a 7% state sales tax should be Answer Sales 15,680 Sales Taxes Payable 15,680 Sales Tax Expense 15,680 Sales Taxes Payable 15,680 Sales 16,778 Sales Taxes Payable 16,778 Sales Tax Expense 16,778 Sales Taxes Payable 16,778

Carl's Video includes the amount of sales taxes collected directly in the price charged for merchandise, and the total amount is credited to Sales. During January, Sales was credited for $239,680. The January 31 adjusting entry to account for a 7% state sales tax should be

Answer

		Sales                     15,680    Sales Taxes Payable              15,680
		Sales Tax Expense         15,680    Sales Taxes Payable              15,680
		Sales                     16,778    Sales Taxes Payable              16,778
		Sales Tax Expense         16,778    Sales Taxes Payable              16,778

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