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Record the entry for the sale

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Question - Dextra Computing sells merchandise for $16,000 cash on September 30 (cost of merchandise is $11,200). The sales tax law requires Dextra to collect 10% sales tax on every dollar of merchandise sold. Record the entry for the $16,000 sale and its applicable sales tax. Also record the entry that shows the payment of the 10% tax on this sale to the state government on October 15.

Reference no: EM132181047

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