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Maxwell Company records its sales taxes in the same account as sales revenues. The sales tax rate is 6 per cent. At the end of
Maxwell Company records its sales taxes in the same account as sales revenues. The sales tax rate is 6 per cent. At the end of the current period, the Sales account has a balance of USD 265,000. The amount of sales tax payable is:
a. USD 12,000.
b. USD 15,000.
c. USD 15,900.
d. USD 18,000.
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