A State requires merchants to report and transmit sales tax within 70 days of the end of
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Question:
A State requires merchants to report and transmit sales tax within 70 days of the end of each quarter in which sales occur, the following relating to sales taxes on sales of,2019 and 2020 ;
Quarter in which sales occurred | Sales taxes on sales |
Last quarter of 2019 | 10,000 |
First quarter , 2020 | 20,000 |
Second quarter ,2020 | 30,000 |
Third quarter ,2020 | 45,000 |
Last quarters ,2020 | 50,000 |
Required :
Answer the following under both modified and full accrual basis”
Modified accrual basis | Full accrual basis |
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Related Book For
Business Math
ISBN: 978-0133011203
10th edition
Authors: Cheryl Cleaves, Margie Hobbs, Jeffrey Noble
Posted Date: