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What the amount recorded in the accounts receivable column

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Reference no: EM132737499

Problem 1: For a sale on account of $1,000.00 plus sales tax of $80.00, the amount recorded in the Accounts Receivable column of a sales journal is

(A) $1,080.00.

(B) $1,000.00.

(C) $920.00.

(D) $80.00.

Problem 2: The amount of sales tax on a sale is calculated as the price of goods

(A) plus the sales tax rate.

(B) times the sales tax rate.

(C) minus the sales tax rate.

(D) divided by the sales tax rate.

Reference no: EM132737499

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