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Moreno Company began Year 1 with a balance of $230 in Sales Tax payable. During the year, the company recorded taxable sales of $97,000 The

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Moreno Company began Year 1 with a balance of $230 in Sales Tax payable. During the year, the company recorded taxable sales of $97,000 The ending balance in Sales Tax payable was $500. Moreno's sales tax rate is 4% Required: Q. How much sales tax did Moreno collect during Year 1 ? b. How much sales tax did Moreno pay during Year 1

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