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ossarian Power Corporation provides electricity to a wide area of eastern Maine. During the mor A March, it billed 3,000 of its residential customers located

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ossarian Power Corporation provides electricity to a wide area of eastern Maine. During the mor A March, it billed 3,000 of its residential customers located in the town of Maryville a total of 354,000 for electricity. In addition, Yossarian Power is required to collect the following taxes: a. State excise tax: A tax of $3.50 per customer plus 2% of billing used to fund the Maine Energy Commission. b. Federal excise tax: A tax of $0.50 per customer plus 0.15% of billing used to fund the Federal Energy Commission. Required: 1. Determine how much Yossarian Power will bill these 3,000 customers in total for the month of March. 2. Prepare the entry to record the billing of these amounts. 3. Prepare the entry to record the collection of these amounts. 4. Prepare the entry to record the payment of the state excise taxes to the appropriate governmental unit. 1. Determine how much Yossarian Power will bill these 3,000 customers in total for the month of March. Total Bill 2. Prepare the entry to record the billing of these amounts on December 31 . 3. Propare the entry to record the colliction of these amounts on December 31 . 4. Prepare the entry to record the payment of the state excise taxes to the appropriate governmental u JRAAL the appropriafe govemmental unit on December 31. JRNAL

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