Metropolitan Masonry Had Sales on Account of $7,700 Which Were

question 107

Multiple Choice

Metropolitan Masonry had sales on account of $7,700 which were subject to state sales tax of 10%. The entry to record the sales would be to:

• A)debit Accounts Receivable, $8,470; credit Sales revenue, $7,700; credit Sales tax payable, $770.
• B)debit Accounts Receivable, $8,470; credit Sale revenue, $8,470.
• C)debit Accounts Receivable, $7,700; credit Sales revenue, $7,700.
• D)debit Accounts Receivable, $7,700; debit Sales tax payable, $770; credit Sales revenue, $8,470.

---

Definitions:

Role

Describes the function or part played by a person or thing in a particular situation or system, such as in an organization or process.

Donoghue v. Stevenson

A foundational case in Scots and English tort law which established the principle that manufacturers owe a duty of care to the ultimate consumers of their products.

Negligence Law

A branch of law that deals with situations where an individual's failure to exercise reasonable care results in harm or injury to another person.

Development

The process of economic, social, and urban growth and improvement.