Al's Bookstore Has Collected $750 in Sales Taxes During April

question 233

Multiple Choice

Al's Bookstore has collected $750 in sales taxes during April. If sales taxes must be remitted to the state government monthly, what entry will Al's Bookstore make to show the April remittance?

• A) Sales Tax Expense 750 Cash 750
• B) Sales Taxes Payable 750 Cash 750
• C) Sales Tax Expense 750 Sales Taxes Payable 750
• D) No entry required.

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Definitions:

Church Attendance

The act of going to church services which is sometimes tracked for sociological research or personal behavior analysis.

Dependent Variable

A variable whose value is dependent on the effects of one or more independent variables in an experiment or study.

Gambling Behavior

Pertains to the patterns of wagering on events with an uncertain outcome, including the motivations, psychological implications, and outcomes associated with such activities.

Amount Of Money

The amount of money refers to the total sum of currency and coins in possession or the monetary value of a particular financial transaction or holding.