Maxwell Company records its sales taxes in the same account as sales revenues. The sales tax rate

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Maxwell Company records its sales taxes in the same account as sales revenues. The sales tax rate is $6 \%$.

At the end of the current period, the Sales account has a balance of $\$ 265,000$. The amount of sales tax payable is:

a. $\$ 12,000$

b. $\$ 15,000$

c. $\$ 15,900$

d. $\$ 18,000$.

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Financial Accounting A Business Perspective

ISBN: 9780072289985

7th Edition

Authors: Roger H. Hermanson, James Don Edwards

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Question Posted: Jun 16, 2024 04:13 AM

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Maxwell Company records its sales taxes in the same account as sales revenues. The sales tax rate

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Financial Accounting A Business Perspective

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