Question: Some Accounting Questions? When the seller prepays the transportation costs and the terms of sale are FOB shipping point, the seller records the payment of the transportation costs by debiting:\na.Sales\nb.Accounts Receivable\nc.Transportation In\n\nIf the seller collects sales tax at the time of sale, the seller credits the tax to:\na.Sales Tax Payable\nb.Sales Tax Receivable\nc.Sales\n\nAfter all adjusting entries are posted, the balances of all asset, liability, revenue, and expense accounts correspond exactly to the amounts in the:\na.general journal\nb.work sheet trial balance\nc.financial statements\n\nI think the first one is B and the second is B as well.

Answer: the first is B\nthe second is A (you will remit this amount to the government hence payable\nthe third I think is A \n(it is not C because C includes bunch of other information, such as management's notes and so forth)
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