E.Flynn Company makes a sale and collects a total of $378, which includes an 8% sales tax. The amount to be credited to Sales Revenue is
A) $378
B) $350
C) $406
D) $348

Name: E.Flynn Company makes a sale and collects a total of $378, which includes an 8% sales tax. The amount to be credited to Sales Revenue is A) $378 B) $350 C) $406 D) $348
Brand: Quizplus
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Question

Quizplus · Accepted Answer

To find the sales revenue without tax, divide the total amount by 1.08 (since 8% is the sales tax rate): $378 / 1.08 = $350.

EFlynn Company Makes a Sale and Collects a Total of $378