Cypress Corp

question 45

Multiple Choice

Cypress Corp.had sales on account of $16,500 which were subject to state sales tax of 8%.The entry to record the sales would be to:

• A)debit Accounts Receivable $16,500;debit Sales Tax Payable $1,320;credit Sales Revenue $17,820.
• B)debit Accounts Receivable $17,820;credit Sales Revenue $16,500;credit Sales Tax Payable $1,320.
• C)debit Accounts Receivable $16,500;credit Sales Revenue $16,500.
• D)debit Accounts Receivable $17,820;credit Sales Revenue $17,820.

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Definitions:

Forest Reserves

Public lands set aside to preserve forest ecosystems, protect watersheds, and support biodiversity conservation.

Public Domain Lands

Lands owned by the government that are not reserved for governmental or specific uses and are available for private use under certain conditions, such as settlement and cultivation.

Supreme Court

The highest judicial court in a country or state, having the ultimate authority to adjudicate appeals and resolve legal disputes.

National Park

A protected area, established by a national government, meant to preserve the natural environment for public enjoyment and ecological conservation.