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Find what is the amount of the sales taxes owed

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Reference no: EM132607162

Question 1: A retail store credited the Sales Revenue account for the sales price and the amount of sales tax on sales. If the sales tax rate is 5% and the balance in the Sales Revenue account amounted to $Unresolved, what is the amount of the sales taxes owed to the taxing agency?

$550000

$577500

$27500

Reference no: EM132607162

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