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tester [92]
2 years ago
7

uring December, Rainey Equipment made a $676,000 credit sale. The state sales tax rate is 6% and the local sales tax rate is 1.5

%. Prepare the appropriate journal entry
Business
1 answer:
ExtremeBDS [4]2 years ago
7 0

Answer:

Please refer to the below for the appropriate journal entry

Explanation:

Accounts receivable Dr $726,700

($676,000 + $50,700)

Sales revenue account Cr $676,000

Sale taxes payable account Cr $50,700

{(6% + 1.5%) × $676,000

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Answer: true, there is an equilibrium.

Explanation:

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2 years ago
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Answer:

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Higher worker productivity in a particular industry implies increased demand for workers in the industry (short term effect).

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(C) This is called a derived demand because it is often based on the demand for products.

For example, when consumers want more of a particular good or service eg clothing, more firms in the industry will want workers that make this product.

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