Question: Posner Co. is a retail store operating in a state with a 7% retail sales tax. The retailer may keep 2% of the sales tax

Posner Co. is a retail store operating in a state with a 7% retail sales tax. The retailer may keep 2% of the sales tax collected. Posner Co. records the sales tax in the Sales Revenue account. The amount recorded in the Sales Revenue account during May was $251,450

14. The amount of sales taxes (to the nearest dollar) for May is

a. $20,762.

b. $16,450.

c. $22,631.

d. $17,602.

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