A sale of merchandise on account for $13,550, terms n/30, is subject to an 6% sales...

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A sale of merchandise on account for $13,550, terms n/30, is subject to an 6% sales tax. a. Should the sales tax be recorded at the time of sale or when payment is received? b. What is the amount of the sale? c. What is the amount of the increase to Accounts Receivable? If required, round your answers to nearest whole value. d. What is the title of the account in which the $813 ($13,550 x 6%) is credited? A sale of merchandise on account for $13,550, terms n/30, is subject to an 6% sales tax. a. Should the sales tax be recorded at the time of sale or when payment is received? b. What is the amount of the sale? c. What is the amount of the increase to Accounts Receivable? If required, round your answers to nearest whole value. d. What is the title of the account in which the $813 ($13,550 x 6%) is credited?

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answer aThe sales tax should be recorded at the time of s... View the full answer