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Determine the proper amount of revenue

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Reference no: EM133171002

Question - Peterson Company billed its customers a total of $840,000 for the month of November. The total includes a 5% state sales tax.

Required -

(a) Determine the proper amount of revenue to report for the month.

(b) Prepare the general journal entry to record the revenue and related liabilities for the month.

Reference no: EM133171002

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