The Sales Day Book formatted with a separate column to record VAT reports 485,000 in the column

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The Sales Day Book formatted with a separate column to record VAT reports £485,000 in the column that is posted to the Sales account and VAT rate is 17.5%. How and at what amount will the related VAT be posted?

(a) £84,875 as a debit

(b) £84,875 as a credit

(d) £569,875 as a credit

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Financial Accounting An Introduction

ISBN: 9780273737650

2nd Edition

Authors: Mr Barry Elliott, Mr Augustine Benedict

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Question Posted: Aug 31, 2023 02:26 AM

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The Sales Day Book formatted with a separate column to record VAT reports 485,000 in the column

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Financial Accounting An Introduction

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