Last month The Sweet Tooth Candy Shops had total sales, including sales tax, of $54,889. The stores are located in a state that has a sales tax of 7 1/2%. (Round your answers to the nearest cent.) (a)As the accountant for The Sweet Tooth, calculate the amount of sales revenue (in $) for the shops last month. (b)As the accountant for The Sweet Tooth, calculate the amount of sales taxes (in $) that must be sent to the state Department of Revenue.

Last month The Sweet Tooth Candy Shops had total sales, including sales tax, of $54,889. The stores are located in a state that has a sales tax of 7 1/2%. (Round your answers to the nearest cent.) (a)As the accountant for The Sweet Tooth, calculate the amount of sales revenue (in $) for the shops last month. (b)As the accountant for The Sweet Tooth, calculate the amount of sales taxes (in $) that must be sent to the state Department of Revenue.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 14EB: Earthies Shoes has 55% of its sales in cash and the remainder on credit. Of the credit sales, 70% is...

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