Francisco Company began 2013 with a balance of $320 in Sales Tax payable. During the year, the company recorded taxable sales of $82,500. The ending balance in Sales Tax payable was $345 Francisco's sales tax rate is 5%.
a) How much sales tax did Francisco collect during 2013?
b) How much sales tax did Francisco pay during 2013?

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The Answer of Francisco Company began 2013 with a balance of $320 in Sales Tax payable. During the year, the company recorded taxable sales of $82,500. The ending balance in Sales Tax payable was $345 Francisco's sales tax rate is 5%.
a) How much sales tax did Francisco collect during 2013?
b) How much sales tax did Francisco pay during 2013?

Francisco Company Began 2013 with a Balance of $320 in Sales