Your company sells $100,000 of goods and you collect sales tax of 3%. What current liability does

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Your company sells $100,000 of goods and you collect sales tax of 3%. What current liability does the sale create?

a. Accounts Payable of $3,000

b. Unearned Revenue of $3,000

c. Sales Revenue of $103,000

d. Sales Tax Payable of $3,000

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Financial Accounting

ISBN: 9780136060482

1st Edition

Authors: Jeffrey Waybright, Robert Kemp

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Question Posted: May 11, 2024 11:04 PM

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Your company sells $100,000 of goods and you collect sales tax of 3%. What current liability does

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Financial Accounting

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