Zom Inc. makes a sale for $400. The company is required to collect sales taxes amounting to 9%, What is the amount that will be credited to the Sales Tax Payable account? Multiple Cholce $36 $33 $200 $39

Zom Inc. makes a sale for $400. The company is required to collect sales taxes amounting to 9%, What is the amount that will be credited to the Sales Tax Payable account? Multiple Cholce $36 $33 $200 $39

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

MC Qu. 10-86 Zorn Inc. makes a sale for...
Zorn Inc. makes a sale for $400. The company is required to collect sales taxes amounting to 9%. What is the amount that will be credited to the Sales Tax Payable account?
Multiple Cholce
$36
$33
$200
$39
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