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Toys Were Us was a retail store operating in a state with a 7% retail sales tax. The state allows retailers to keep 2%
Toys Were Us was a retail store operating in a state with a 7% retail sales tax. The state allows retailers to keep 2% of the sales tax collected if they remit it within two weeks. TWU records the sales tax in its Sales Revenue account. The amount recorded in the Sales Revenue account during May was $754,350. Calculate the amount of sales tax collected during May $52,806 O $62,286 O $67,893 $49,350
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