Ed's Bookstore Has Collected $750 in Sales Taxes During April $\begin{array}{lrr} \text { Sales Taxes Payable } &750\\ \text { Cash } &&750\\\end{array}$

question 198

Short Answer

Ed's Bookstore has collected $750 in sales taxes during April. If sales taxes must be remitted to the state government monthly, what entry will Ed's Bookstore make to show the April remittance?
a. $\begin{array}{lrr} \text { Sales Taxes Payable } &750\\ \text { Cash } &&750\\\end{array}$

b.
$\begin{array}{lrr} \text { Sales Tax Expense } &750\\ \text { Cash} &&750\\\end{array}$


c.
$\begin{array}{lrr} \text { Sales Tax Expense } &750\\ \text {Sales Taxes Payable } &&750\\\end{array}$


d. $\begin{array}{lrr} \text { No entry required. } &\\\end{array}$