How would you input this as a journal entrie? March 31 Sold merchandise that cos

Question

How would you input this as a journal entrie?
March 31 Sold merchandise that cost $3,600 for $8,000 plus $800 sales tax (which will be paid in September). 60% of the sales were for cash, the remainder on account. How would you input this as a journal entrie?
March 31 Sold merchandise that cost $3,600 for $8,000 plus $800 sales tax (which will be paid in September). 60% of the sales were for cash, the remainder on account.
March 31 Sold merchandise that cost $3,600 for $8,000 plus $800 sales tax (which will be paid in September). 60% of the sales were for cash, the remainder on account.

Explanation / Answer

Cash (($8,000+$800)*60%) $ 5,280 Accounts receivable (($8,000+$800)*40%) $ 3,520 Sales tax payable $     800 Sales revenue $ 8,000 Cost of goods sold $ 3,600 Merchandise inventory $ 3,600

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