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What is amount of the sales taxes owed to the taxing agency

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Reference no: EM132970037

Problem 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 $651000, what is the amount of the sales taxes owed to the taxing agency?

Reference no: EM132970037

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