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11. A retail store sold $1,000,000 of merchandise inventory in cash during the month of December. The sales were subject to 0.06% sales tax and
11. A retail store sold $1,000,000 of merchandise inventory in cash during the month of December. The sales were subject to 0.06% sales tax and due to be paid to the state on January 20.
i. Journalize the transaction to record sales revenue for the month of December on the last day of the month.
ii. Journalize the transaction to record the payment of sales tax to the state on January 20.
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