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Mars Company had cash sales of $10,000. The state sales tax rate is 10.8%. What amount is debited to the Cash account? A) $10,000 B)

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Mars Company had cash sales of $10,000. The state sales tax rate is 10.8%. What amount is debited to the Cash account? A) $10,000 B) $11,080 C) $1080 D) $1000 QUESTION 25 Barron Company sold goods for $883,500 on account. The company operates in a state that imposes a 9% sales tax. What is the amount of the sales tax payable to the state? A) $79,515 B) $39,758 C) $19,879 D) $159,030 QUESTION 26 Which of the following liabilities is created when a company receives cash for services to be provided in the future? A) Unearned Revenue B) Accrued Liability C) Accounts Payable D) Estimated Warranty Payable QUESTION 27 Unearned revenue, for services to be performed in six months, appears on the balance sheet as A) long-term investments B) current liabilities C) current assets D) long-term assets

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