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Business, 11.03.2020 02:44 sevaramirabell
During the current year, Casual Wear Co. had total retail sales of $800,000 and collected a 5% state sales tax on all sales. At the end of the prior year, Casual Wear had $4,500 in sales taxes that had not been remitted to state authorities. During the current year, Casual Wear remitted $39,500 in state sales tax. What amount should be recorded in Casual Wear's current-year financial statements?
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During the current year, Casual Wear Co. had total retail sales of $800,000 and collected a 5% state...
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