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What is the amount of the sales taxes owed

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Question - 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 $294,000, what is the amount of the sales taxes owed to the taxing agency?

a. $280,000

b. $294,000

c. $14,700

d. $14,000

Reference no: EM132588645

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