When we collect sales taxes from our customers, the sales tax collected is: O reported as...

 

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When we collect sales taxes from our customers, the sales tax collected is: O reported as sales on the income statement. O subtracted from cost of goods sold on the income statement. O reported as a current liability on the balance sheet. O included in operating expenses on the income statement. When we collect sales taxes from our customers, the sales tax collected is: O reported as sales on the income statement. O subtracted from cost of goods sold on the income statement. O reported as a current liability on the balance sheet. O included in operating expenses on the income statement.

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Answer is c reported as a current liability on the balance sheet When ... View the full answer