The Print Shoppe Had Sales on Account of $4,500 Which

question 111

Multiple Choice

The Print Shoppe had sales on account of $4,500 which were subject to state sales tax of 9.5%.The entry to record the sales would be to:

• A)debit Accounts Receivable $4,500;credit Sales Revenue $4,500.
• B)debit Accounts Receivable $4,500;debit Sales Tax Payable $427.50;credit Sales Revenue $4,927.50.
• C)debit Accounts Receivable $4,927.50;credit Sales Revenue $4,927.50.
• D)debit Accounts Receivable $4,927.50;credit Sales Revenue $4,500;credit Sales Tax Payable $427.50.

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Definitions:

Bargaining Unit

A group of employees with a clear and identifiable community of interests who are represented by a single labor union for purposes of collective bargaining.

Card Checking

A method used in labor organization activities where employees sign cards indicating their support for union representation.

Certification Process

The formal procedure by which an individual or organization is assessed and confirmed to meet specific standards or qualifications.

Resistance Point

In negotiation, the least favorable point at which one will accept a deal. Beyond this point, the party would prefer to walk away from negotiations.