Valentino Farms started business on August 1, 20X1. During August, Valentino Farms reported sales of $56,032 and sales returns and allowances of $932. Valentino Farms must charge 7% sales tax on all sales. Required: Compute the balance of the Sales Tax Payable account on August 31, 20X1

Answer rating: 100% (QA)

To compute the balance of the Sales Tax Payable account on August 31 20... View the full answer