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Sales Tax Transactions Journalize the entries to record the following selected transactions. a. Sold $445,000 of merchandise on account, subject to a sales tax of
Sales Tax Transactions Journalize the entries to record the following selected transactions. a. Sold $445,000 of merchandise on account, subject to a sales tax of 7%. The cost of the goods sold was $262,550. If an amount box does not require an entry, leave it blank. ll b. Paid $40,760 to the state sales tax department for taxes collected. If an amount box does not require an entry, leave it blank
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