Dextra computing sells merchandise for $6,000 cash on september 30 (cost of merchandise is $3,900). the sales tax law requires dextra to collect 5% sales tax on every dollar of merchandise sold. record the entry for the $6,000 sale and its applicable sales tax. also record the entry that shows the payment of the 5% tax on this sale to the state government on october 15.

The Journal entries are as follows:

(i) On September 30,

Cash A/c ($6,000 + $300)   Dr. $6,300

To Sales                                                     $6,000

To sales tax payable                                 $300

(To record sales and 5% sales tax payable)

(ii) On September 30,

Cost of goods sold A/c     Dr.   $3,900

To merchandise inventory                     $3,900

(To transfer the cost to the finishing department)

(iii) On 15th October,

Sales tax payable A/c   Dr. $300

To cash                                           $300

(To record remittance of sales tax to the state government)

match each type of restriction with one of its effects.

a. land-use laws

b. labor laws

c. banking regulations

a. controlled development of towns and cities

b. protection of young workers

c. greater financial stability

answer; according to the ( irs );