Answered step by step
Verified Expert Solution
Question
1 Approved Answer
help pls!!! will rate! thank you in advance If the amount of a company's Sales account is $636,000 for the year and includes sales tax
help pls!!! will rate! thank you in advance
If the amount of a company's Sales account is $636,000 for the year and includes sales tax at a rate of 6%, how much should the company report in the income statement as Sales and Sales Tax Expense $500,000 for Sales and nothing for Sales Tax Expense $636,000 for Sales and $35,000 for Sales Tax Expense $600,000 for Sales and nothing for Sales Tax Expense $600,000 for Sales and $36,000 for Sales Tax Expense Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started