WG Inc. has cash received from customers in the amount of $10,700 on December 15, which includes sales of 10,000 plus sales tax collected of $700. The entry to record the December 15 transaction will...

WG Inc. has cash received from customers in the amount of $10,700 on December 15, which includes sales of 10,000 plus sales tax collected of $700. The entry to record the December 15 transaction will include a credit to

sales revenue in the amount of $10,700

sales tax payable in the amount of $700