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What is the journal entry required to record this transaction in the nominal ledger?

DRAG DROP

CDE, an entity registered for sales tax, purchases a piece of equipment for cash on 31 December 20X6 for $30,000 including sales tax. The sales tax rate is 20%.

What is the journal entry required to record this transaction in the nominal ledger?

Place the labels in the corresponding position in the table below:

Answer:

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