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Which of the following represents the impact of a taxable cash sale of $400 on the accounting equation if the sales tax rate is
Which of the following represents the impact of a taxable cash sale of $400 on the accounting equation if the sales tax rate is 4%? Mumpler Chor An increase to cash for $416, an increase to sales tax payable for $16, and an increase to sales revenue for $400. An increase to cash for $400, an increase to sales tax payable for $16, and an increase to sales revenue for $384. O None of these answer choices is correct O An increase to cash for $416, an increase to sales tax expense for $16, and an increase to sales revenue for $400.
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