A retail store credited the Sales Revenue account for the sales price and the amount of sales tax on sales. If the sales tax rate is 5% and the balance in the Sales Revenue account amounted to ¥336,000,000, what is the amount of the sales taxes owed to the taxing agency?
A) ¥320,000,000
B) ¥336,000,000
C) ¥16,800,000
D) ¥16,000,000
Correct Answer:
Verified
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