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Required information [The following information applies to the questions displayed below) The following selected transactions apply to Topeco Supply for November and December Year 1.

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Required information [The following information applies to the questions displayed below) The following selected transactions apply to Topeco Supply for November and December Year 1. November was the first month of operations. Soles tax is collected at the time of sale but is not paid to the state sales tax agency until the following month 1. Cash sales for November Year 1 were $66,000 plus sales tax of 7 percent 2. Topeca Supply paid the November sales tox to the state agency on December 10, Year 1 3. Cosh sales for December Year 1 were $79,500 plus sales tax of 7 percent hat was the total amount of sales tax collected in Year 1? stax colected

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