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A. What is the total amount of sales tax collected in 2017? B. What is the total amount of sales tax paid in 2017? C.

A. What is the total amount of sales tax collected in 2017?
B. What is the total amount of sales tax paid in 2017?
C. What is the total amount of the sales tax liability as of December 31, 2017? image text in transcribed
(1) Tope Supply Company started operations on November 1, 2017. Sales tax is collected at the time of sale but is not paid to the state sales tax agency until the following month. The following is selected information related to the company: Sales for November 2017 were $165,000, plus sales tax of 7%. November sales tax was paid to the state agency on December 10, 2017. December 2017 sales totaled $180,000, plus sales tax of 7%. Required (show calculations) A. What is the total amount of sales tax collected in 2017? B. what is the total amount of sales tax paid in 2017? C. What is the total amount of the sales tax liability as of December 31, 2017

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