Acash register tape shows cash sales of $5,000 and sales taxes of $300. the journal entry to record this information is

The journal entry for the cash receipt and on that the sales tax is charged is as follows:

Explanation:

Cash A/cDr  $5,300

     To Sales RevenueA/cCr $5,000

     To Sales Tax Payable A/cCr  $ 300

Working Note:

So, the total of cash received will be = Sales Amount + Amount of sales tax payable

= $5,000 + $300

= $5,300

a

explanation:

reducti0n

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