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Novak Supply does not segregate sales and sales taxes at the time of sale. The register total for March $16$ is $$13,520.$ All sales are

subject to a $4\%$ sales tax.

Compute sales taxes payable.

Prepare a tabular summary to record sales taxes payable and sales. Include margin explanations for the changes in revenues and

expenses. $($If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign $($or parentheses$)$ in front of the

amount entered for the particular Asset, Liability or Equity item that was reduced.$)$

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