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Pharoah Industries has total sales of $152000 and sales taxes collected totaling $10640 based on a 7% tax rate during June. The company submitted $6200

Pharoah Industries has total sales of $152000 and sales taxes collected totaling $10640 based on a 7% tax rate during June. The company submitted $6200 of the taxes to the State before the end of JuneWhich one of the following will be reported on Pharoah's financial statements at the end of June

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