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- QS 9-1 Classifying liabilities @ cin Which of the following items are normally classified as current liabilities for a company that has a one-year
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QS 9-1 Classifying liabilities @ cin Which of the following items are normally classified as current liabilities for a company that has a one-year operating cycle? 1. Portion of long-term note due in 10 months. Note payable maturing in 2 years. Note payable due in 18 months. 4. Accounts payable due in 11 months. 5. FICA taxes payable. 6. Salaries payable. 2. 3. QS 9-2 Accounting for sales taxes @c2 Dextra Computing sells merchandise for $6,000 cash on September 30 (cost of merchandise is $3,900). Dextra collects 5% sales tax. (1) Record the entry for the $6,000 sale and its sales tax. (2) Record the entry that shows Dextra sending the sales tax on this sale to the government on October 15Step by Step Solution
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