The liability account used to record sales tax owed is:
A) Sales Tax Expense.
B) Prepaid Taxes.
C) Sales Tax Payable.
D) Sales.
Correct Answer:
Verified
Q4: Gross sales equals:
A) net sales minus sales
Q7: The length of time the customer is
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Q9: Home Restoration reports net sales of $60,000.If
Q10: B&B Lumber reports gross sales of $80,000.If
Q10: Sales Tax Payable is a:
A) liability account
Q11: A characteristic of the account,Sales Discount,includes the
Q14: The time frame when customers are allowed
Q17: Credit terms of 2/10,n/30 mean that:
A)a 2%
Q69: A characteristic of Sales Returns and Allowances
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