The annual sales of a company are $235,000 including sales tax at 17.5%. Half of the sales are on credit terms, half are cash sales. The receivables in the statement of financial position are $23,500. What is the output tax?
The annual sales of a company are $235,000 including sales tax at 17.5%. Half of the sales are on credit terms, half are cash sales. The receivables in the statement of financial position are $23,500. What is the output tax?
Chapter15: Choice Of Business Entity—other Considerations
Section: Chapter Questions
Problem 72P
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