(a) Your roommate says, Sales taxes are reported as an expense in the income statement. Do you...

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(a) Your roommate says, "Sales taxes are reported as an expense in the income statement." Do you agree? Explain.

(b) Hard Walk Cafe has cash proceeds from sales of $\$ 10,400$. This amount includes $\$ 400$ of sales taxes. Give the entry to record the proceeds.

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Financial Accounting

ISBN: 9780471169208

2nd Edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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Question Posted: Jun 14, 2024 01:11 AM

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(a) Your roommate says, Sales taxes are reported as an expense in the income statement. Do you...

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Financial Accounting

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