Accounting
Prepare journal entries for each of the following sales transactions by Elegant Electronics, including a 3.5% sales tax, and the remittance of all sales tax to the tax board on October 23.
| Accounts Payable | Merchandise Inventory | Sales Discount |
| Cash | Sales | Sale Tax Payable |
Elegant Electronics sells a cellular phone on September 2 for $450:
DR DR or CR? CR On September 6, Elegant sells another cellular phone for $500:
DR DR or CR? CR The remittance of all sales tax to the tax board on October 23:
DR CR
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