Explain why the account Sales Tax Payable is credited when a sale is made subject to a sales tax?
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Q43: For each of the following, identify in
Q44: Calculate gross sales:
net sales = $100,000
sales returns
Q45: The Sales Returns and Allowances account is
Q46: Sales Tax Payable represents an asset on
Q47: Sales is a revenue account.
Q49: Sales Discounts is a liability account.
Q50: Terms of 3/10, n/30 means that a
Q51: If a customer returns merchandise, the income
Q52: For each of the following, identify in
Q53: Use the following information to answer the
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