Aount recorded in the sales account


Raney Co. is a retail store operating in a state with a 6% retail sales tax. The retailer may keep 2% of the sales tax collected. Raney Co. records the sales tax in the Sales account. The amount recorded in the Sales account during May was $556,500.

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Managerial Accounting: Aount recorded in the sales account
Reference No:- TGS083454

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