Barter Company sold goods for $875,500 on account. The company operates in a state that imposes a 6% sales tax. Which of the following would be the amount of the sales tax payable to the state?
A)$52,530
B)$50,540
C)$45,300
D)$55,090

Question

Quizplus · Accepted Answer

To calculate the sales tax payable to the state, we need to first calculate the amount of sales tax charged on the goods sold.

Amount of sales tax charged = 6% of $875,500 = $52,530

Therefore, the sales tax payable to the state is $52,530.

The correct answer is option A.

Barter Company Sold Goods for $875,500 on Account