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(4 points) 15. At the end of the quarter the company remitted the sales tax withheld to the municipality, how this event will affect the
(4 points) 15. At the end of the quarter the company remitted the sales tax withheld to the municipality, how this event will affect the accounting equation (Financial Statements-horizontal)? a) Decrease Cash and decrease Sales Tax Payable by $12,900. The cash flow will be affected by $12,900 outflow. b) Decrease Cash and decrease Sales Tax Payable by $6,186. The cash flow will be affected by $6,186 outflow. c) Decrease Cash and decrease Sales Tax Payable by $5,820. The cash flow will be affected by $5,820 outflow. You MUST show your calculations: During the first quarter, the company registered sales. None of these transactions include the sales tax of 6%. October $61,000 November $70,000 December $84,000
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