Which of the following represents the correct journal entry to record a taxable cash sale of $880 if the sales tax rate is 5%?
A. A debit to cash for $880, a credit to sales tax payable for $44, and a credit to sales revenue for $836.
B. A debit to cash for $924, a debit to sales tax expense for $44, and a credit to sales revenue for $880.
C. A debit to cash for $924, a credit to sales tax payable for $44, and a credit to sales revenue for $880.
D. None of these answer choices are correct.
Answer: C
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