Entity E does not account for sales taxes separately when making sales. The sales tax rate is
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Question:
Entity E does not account for sales taxes separately when making sales. The sales tax rate is 5%. If the total amount collected was $68,250, how much was the sales tax? Round to the nearest dollar if necessary.
$3,250 | ||
$65,000. | ||
$3,413. | ||
$68,250 |
Related Book For
Fundamental financial accounting concepts
ISBN: 978-0078025365
8th edition
Authors: Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Edward
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