What is the amount of the sales taxes owed to the taxing, Accounting Basics

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What is the amount of the sales taxes owed to the taxing

A retail store credited the Sales Revenue account for the sales price and the amount of sales tax on sales. If the sales tax rate is 5% and the balance in the Sales Revenue account amounted to $525,000, what is the amount of the sales taxes owed to the taxing agency?

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Accounting Basics: What is the amount of the sales taxes owed to the taxing

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Accounting Basics: What is the amount of the sales taxes owed to the taxing

Reference No:- TGS0705768

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Compute the equivalent cost per unit for labor

Q : What is the carrying value of the machine at the end

Q : What is the journal entry to record this exchange

Q : Discuss the ethical and professional conduct of joshua

Q : What is the amount of the sales taxes owed to the taxing

Q : How many months will it take to deplete the balance

Q : Calculate the t score based on the data

Q : Explain largest contribution margin to the buying division

Q : How would these asset appear on the balance sheet

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: What is the amount of the sales taxes owed to the taxing

Reference No:- TGS0705768

Recent Questions Asked Accounting Basics

Q : Compute the equivalent cost per unit for labor

Q : What is the carrying value of the machine at the end

Q : What is the journal entry to record this exchange

Q : Discuss the ethical and professional conduct of joshua

Q : What is the amount of the sales taxes owed to the taxing

Q : How many months will it take to deplete the balance

Q : Calculate the t score based on the data

Q : Explain largest contribution margin to the buying division

Q : How would these asset appear on the balance sheet

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