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I follow opentuition lectures and I solved all sales tax questions correctly except this one. I think that the book answer is wrong.
The following information relates to Eva Co’s sales tax for the month of March 20X3:
Sales (including sales tax) 109250$
Purchases (net of sales tax) 64000$Sales tax is charged at a flat rate of 15%. Eva CO’s sales tax account showed an opening credit balance of 4540$ at the beginning of the month and a closing debit balance of 2720$ at the end of the month.
What was the total sales tax paid to regulatory authorities during the month of March 20X3?Can anyone solve the above question?
For anyone coming across this thread, the above is answered by tutor in the following thread-
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