Question: Excise and Sales Tax Calculations Allied Company has just billed a customer for $14,500, an amount that includes a ten percent excise tax and a

Excise and Sales Tax Calculations Allied Company has just billed a customer for $14,500, an amount that includes a ten percent excise tax and a six percent state sales tax. a. What amount of revenue is recorded? b. Prepare a journal entry to record the transaction on the books of Allied Company. Round all answers to the nearest dollar. a. Amount of recorded revenue $ 0 b. Date Dec 31 General Journal Description Debit Credit 0 $ 05 Excise Tax Payable 0 Sales Tax Payable 0 0 0000

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