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The Ivanhoe Industries has total sales of $138000 and sales taxes collected totaling $9660 based on a 7% tax rate during June. company submitted $4800
The Ivanhoe Industries has total sales of $138000 and sales taxes collected totaling $9660 based on a 7% tax rate during June. company submitted $4800 of the taxes to the State before the end of June. Which one of the following will be reported on Ivanhoe's financial statements at the end of June? Sales for $147660 Sales Tax Expense for $9660 Net sales for $142860 Sales Taxes Payable for $4860
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