Question: Stine Co. is a retail store operating in a state with a 6% retail sales tax. The retailer may keep 2% of the sales tax

Stine Co. is a retail store operating in a state with a 6% retail sales tax. The retailer may keep 2% of the sales tax collected. Stine Co. records the sales tax in the Sales account. The amount recorded in the Sales account during May was $148,400. 1. The amount of sales taxes (to the nearest dollar) for May is a. $8,726. b. $8,400. c. $8,904. d. $9,438. 2. The amount of sales taxes payable (to the nearest dollar) to the state for the month of May is a. $8,551. b. $8,232. c. $8,726. d. $9,249.

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