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The following selected transactions apply to Topeca Supply for Nowember and December. Year 1. Noventber wis the fits month of operations. Sales tax is collected

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The following selected transactions apply to Topeca Supply for Nowember and December. Year 1. Noventber wis the fits month of operations. Sales tax is collected at the time of sale but is not poki to the state sales tax agency antid the fothwing month 1. Cash sales for November, Year 1 were $65,000 plis fales tax of 6 percent. 2. Jopeca Supply paid the November sales lax to the state agency on December 10 , Year 1 . 3. Cash sales foc December, Year I were $79,500 phas salos tax of 6 percent. Required a. Show the effect of the above transactions on a stateatents model tike the one shown as follows: In the Cash Fiow column, indicale whether the ltem is an operating activity (OM) an investing activity (IA), or a financing activity (fA) : I an element is not atfected by the ievent. Jcave the cell blank. b. What was the total adsotint of sales tax paid in Year 1? c. What was the fotal ameunt of sales lax collected in Yeat 1? d. What is the amount of the sales tax liability as of December 31 Year 1? e. On which firancial statement will the sales tax llability appear? Complete this question by entering your answers in the tabs below. Show the effect of the above transactlans on a statements model like the one shown as followr. In the Cash flow colkmn, indicite whether the Iferm is an operatiog bularscts and cash outtlows wth a minus sign. Not all cells will require entry.) Complete this question by entering your answers in the tabs thelow. 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? C. On which financial statement will the sales tax liability appear

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