Question: Raney Co. is a retail store operating in a state with a 6.5% retail sales tax. The retailer may keep 1.2% of the sales tax

Raney Co. is a retail store operating in a state with a 6.5% retail sales tax. The retailer may keep 1.2% of the sales tax collected. Raney Co. records the sales tax in the Sales account. The amount recorded in the Sales account during May was $44,508. The amount of sales taxes payable to the state for the month of May is?

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