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Check my work 1 The following selected transactions apply to Topeca Supply for November and December Year 1. November was the first month of operations Sales taxis collected at the time of Sale but is not paid to the state sales tax agency until the following month 16.66 points 1. Cash sales for November Year 1 were $64,500 plus sales tax of 7 percent 2. Topeca Supply paid the November sales tax to the state agency on December 10 Year 1 3. Cath sales for December Year 1 were $82,500 plus sales tax of 7 percent Required a. Show the effect of the above transactions on a statements model like the one shown as follows in the Cash Flow column, indicate whether the item is an operating activity (OA, an investing activity (1), or a financing activity (FA). If an element is not affected by the event, leave the cell blank b. What was the total amount of sales tax paid in Year 1? c. What was the total amount of sales tax collected in Year 1? d. What is the amount of the sales tax liability as of December 31 Year 1? e. On which financial statement will the sales tax liability appear? 1 Check my work Complete this question by entering your answers in the tabs below. 16.66 ponts Reg A Reg to BO Show the effect of the above transactions on a statements model like the one shown as follows. In the cash flow column, indicate whether the item is an op activity (OA), an investing activity (IA), or a financing activity (FA). If an element is not affected by the event, leave the cell bank. Enter any decreases to balances and cash outflows with a minussionNot all cells will require entry) Hint D Assets TOPECA SUPPLY Horizontal Statements Model Stockholder's Equity Income Statement Common Retained Revenue Expense Net Income Stock Earnings Liabilities Sales Tax Payable Event Statement of Cash Flows Cash 1 2 3 Reg BloE 1 Complete this question by entering your answers in the tabs below. 16.66 points Req A Req B toe eBook Hint b. What was the total amount of sales tax pald in Year 1? c. What was the total amount of sales tax collected in Year 1? d. What is the amount of the sales tax liability as of December 31, Year 17 e. On which financial statement will the sales tax liability appear? Print Show S $ b. Sales tax paid c. Sales tax collected d. Sales tax liability e. The liability is shown on the 4,515 10,290 5,775 $ balance sheet