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(1) the following are sales tax totals for the first trading period of a firm:
sales tax on :
sales———–$ 4,900
purchases——$ 3,200
returns outwards———$ 245
returns inwards———-$320
What is the balance on the sales tax account after these transactions have been posted ?
(i) $ 1625 Dr
(ii)$ 1775 Dr
(iii)$ 1776 Cr
(iv)$ 1625 Cr
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