Ch 7 Homework Seve Check 2 1 Cash sales for November Year I were $165.000 plus sales tax of 7 percent 2. Topeca Supply paid the November sales tax to the state agency on December 10, Year 3. Cash sales for December Year I were $180.000 plus sales tax of 7 percent 333 Required a. Show the effect of the above transactions on a statements model the one shown as follows. In the Cash Flowcolum Indicate whether the item is an operating activity (OA), an investing activity Al, or a financing activity (FA). Y en element is not affected by the event, leave the ce blank b. What was the total amount of sales tax paid in Year 17 What was the total amount of sales tax collected in Year? d. What is the amount of the sales tax liability as of December 31 Year? e. On which financial statement will the sales tax liability appear? H Complete this question by entering your answers in the tabs below Rea A Rre to Show the effect of the above transactions on a statements modele the one shown as follows. In the Cash Flow column, indicate whether the term is an operating activity (OA), an investing activity (IA), or a financing activity (A) 17 an element is not affected by the event, leave the cell blank (Enter any deonis to account balances and cash outflows with a sign Not cells will require entry) TOPECA SUPPLY Horizon Statement Model Assets Labs Stockholders Income Sotment Statemente Event Common Retained Raven Cash Chees pe - Net Income 1 2 3 26 Next >