Author Question: A business sells merchandise, 700, plus 6 percent sales tax, and the customer used a bank charge ... (Read 23 times)

faduma · **on:** Jul 6, 2018

A business sells merchandise, 700, plus 6 percent sales tax, and the customer used a bank charge card. The discount charged by the bank is 4 percent of the total of sales plus sales tax. The amount recorded in the Sales Tax Payable Credit column is
a. 29.68.
b. 42.00.
c. 28.00.
d. 40.32.
e. 71.68.

Question 2

Which of the following accounts would not be included in a balance sheet of a governmental fund?

a. Cash
b. Investments
c. Equipment
d. Salaries Payable
e. Advance to Enterprise Fund