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On 1 September 20X9 the opening balance on Gordon’s sales tax account is $5,250 credit. During the month he makes sales net of sales tax of $62,150 and purchases inclusive of sales tax of $71,940.
The rate of sales tax is 10%.What is the balance on Gordon’s sales tax account at 30 September 20X9?
$5,575 Dr
$3,706 Cr
$4,271 Cr
$4,925 Cr
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