The following info relates to Eva Co's sales tax for the month of March 20X3. Sales (including
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Question:
The following info relates to Eva Co's sales tax for the month of March 20X3.
Sales (including sales tax). $109, 250
Purchases (net of sales tax?). $64,000
Sales tax is charged at a flat rate of 15%. Eva Co's sales tax account showed an opening credit balance of $4,540 at the beginning of the month and a closing debit balance of $2,720 at the end of the month.
What was the total sales tax pd to regulatory authorities during the month of March, 20X3?
A. $6,470.00
B. $11,910.00
C. $14,047.50
D. $13,162.17
Expert Answer:
To find the total sales tax paid to regulatory authorities during March 20X3 we need to calculate th... View the full answer
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