Why is sales tax collected considered a liability?

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Accounting Multicolumn Journal

ISBN: 9781285528458

10th Edition

Authors: Claudia Gilbertson

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Question Posted: May 13, 2024 06:02 AM

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Why is sales tax collected considered a liability?

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Sales tax collected is considered a liability because it represents an obligation of the business to ...View the full answer

Accounting Multicolumn Journal

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