Ironwood Company's sales for May 24 were $29,000. Ironwood is required to collect 6% state sales tax. The total cash received from customers was:

Question

Quizplus · Accepted Answer

Since Ironwood collects a 6% state sales tax, the total cash received from customers should be the sum of the sales and tax collected. 
Tax collected = 6% of $29,000 = $1,740 
Therefore, the total cash received = sales + tax collected = $29,000 + $1,740 = $30,740. Hence, option D is the correct answer.

Ironwood Company's Sales for May 24 Were $29,000