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. Cash sales for November Year $1$ were $64,500$ plus sales tax of $6$ percent. Topeca Supply paid the November sales tax to the state agency on December $10,$ Year $1.$ Cash sales for December Year $1$ were$83,500$ plus sales tax of $6$ percent. D$.$ What is the amount of the sales tax liability as of December $31,$ Year $1?$ information $[$The following information applies to the questions displayed below.$]$ 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

$($

$64,500$

$)$ plus sales tax of $6$ 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

$(83,500$

$)$ plus sales tax of $6$ percent. e$.$ On which financial statement will the sales tax liability appear?information $[$The following information applies to the questions displayed below.$]$ 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

$($

$64,500$

$)$ plus sales tax of $6$ 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

$(83,500$

$)$ plus sales tax of $6$ percent. c$.$ What was the total amount of sales tax collected in Year $1?$information $[$The following information applies to the questions displayed below.$]$ 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

$($

$64,500$

$)$ plus sales tax of $6$ 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

$(83,500$

$)$ plus sales tax of $6$ percent. b$.$ What was the total amount of sales tax paid in Year $1?$information $[$The following information applies to the questions displayed below.$]$ 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

$($

$64,500$

$)$ plus sales tax of $6$ 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

$(83,500$

$)$ plus sales tax of $6$ percent. Required a$.$ Record the effect of the given transactions in a horizontal statements model. Note: In the Cash Flow column, use the initials $$Af$$or operating activities, F$$Af$$or financing activities, and $$Af$$or investing activity. Enter any decreases to account balances and cash outflows with a minus sign. Not all cells require input.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.

Cash sales for November, Year $1$ were $$165,000$ plus sales tax of $7$ percent.

Topeca Supply paid the November sales tax to the state agency on December $10,$ Year $1.$

Cash sales for December, Year $1$ were $$180,000$ 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 $($IA$),$ 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?

Complete this question by entering your answers in the tabs below.

Req $B$ to $E$

Show the effect of the above transactions on a statements model like the one shown as follows. In the Cash Flow column, indicate

activity $($OA$),$ an investing activity $($IA$),$ or a financing activity $($FA$).$ If an element is not affected by the event, leave the cell blank.

balances and cash outflows with a m