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2, 5% sales tax. (a) Merchandise is sold for $320 cash plus sales tax. (b) Merchandise is sold on account for $365 plus sales tax.

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2, 5% sales tax. (a) Merchandise is sold for $320 cash plus sales tax. (b) Merchandise is sold on account for $365 plus sales tax. (c) Payment is received for merchandise sold on account. Cash 320 365 Accounts Receivable 365 (c) 365 Sales Tax Payable 336 383.25 Sales

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