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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 (4
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 (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
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