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The following selected transactions apply to Topeca Supply for November and December Year 1. November was the first month of operations. Sales tax is collected

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The following selected transactions apply to Topeca Supply for November and December Year 1. November was the first month of operations. Sales 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 $65.000, plus sales tax of 7 percent. 2. Topeca Supply paid the November sales tax to the state agency on December 10, Year 1. 3. Cash sales for December Year 1 were $79,000. plus sales tax of 7 percent Required a. Record the preceding transactions in general journal form. b. Show the effect of the preceding transactions in a horizontal statements model c. What was the total amount of sales tax paid in Year 1? d. What was the total amount of sales tax collected in Year 1? e. What amount of sales tax expense will be reported on the Year 1 income statement? Complete this question by entering your answers in the tabs below. Req Rego Red Cto E Record the preceding transactions in general Journal form. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) Req A Red B Reg C to E Record the preceding transactions in general journal form. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet Req A Reg B Req cto E Record the preceding transactions in general foumal form. (If no entry is required for a transaction/event, select "No Journal entry required in the first account field.) View transaction list Journal entry worksheet Cash sales for December Year 1 were $79,000, plus sales tax of 7 percent. Record the transaction. Note: Enter debits before credits Event General Journal Debit Credit 3 Record entry Clear entry View general journal 3 Roga ReqB > E COTES es tax of / percent Required a. Record the preceding transactions in general journal form b. Show the effect of the preceding transactions in a hortzontal statements model c. What was the total amount of sales tax paid in Year 17 d. What was the total amount of sales tax collected in Year 12 e. What amount of sales tax expense will be reported on the Year income statement? Complete this question by entering your answers in the tabs below. 11 ROGA Ren Reactor cas show the effect of the preceding transactions in a horizontal statements model. Center any decreases to account balance with a mission to the Cash Flow column, teth initials o to designate operating activity. A for investing activity. FA for financing activity, or leave blank for not affected.) TOPECA SUPPLY Horizontal Statements Model Assets Labs Stockhokers'Equity Income Statement Five Statement of Cash Sales Tax Cash Common Retained Payable Stock Reven Flows Expenses Net Income Earrings 1 2 2

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