Hi everyone,
Can anyone help me with this question:
The following information relates to Eva Co's sales tax for the month if March 20X3:
Sales (including sales tax) $ 109,250 Purchases (net of sales tax) $ 64,000
Sales tax is charged at a flat rate of 15%. Eva Co's sales tax account showed an opening credit balance of $4,540 at the beginning of the months and a closing debit balance of $2,720 at the end of the month.
What was the total sales tax paid to regulatory authorities during the month of March 20X3?
