(a) Your roommate says, Sales taxes are reported as an expense in the income statement. Do you...
Question:
(a) Your roommate says, “Sales taxes are reported as an expense in the income statement.” Do you agree? Explain.
(b) Amanda’s Cafe has cash proceeds from sales of
$8,550. This amount includes $550 of sales taxes.
Give the entry to record the proceeds.
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Related Book For 
Accounting Tools For Business Decision Making
ISBN: 9781118771112
5th Edition
Authors: Kimmel, Wetlands, Kieso
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