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A sale of merchandise on account for $ 5 , 0 0 0 , terms n / 3 0 , is subject to an 8
A sale of merchandise on account for $ terms n is subject to an sales tax.
a Should the sales tax be recorded at the time of sale or when payment is received?
Answer:
b What is the amount of the sale?
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c What is the amount of the increase to Accounts Receivables?
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d What is the title of the account in which the $$ x is recorded?
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