Answer:
$ 14,221
Explanation:
Data provided in the question :
Selling price of the good = $ 14,221
State sales tax rate = 8 %
now,
the sales tax on the goods sold = 8% of $ 14,221
or
the sales tax on the goods sold = 0.08 × $ 14,221 = $ 1,137.68
therefore,
The total cash received = Selling price + sales tax on the
or
The total cash received = $ 14,221 + $ 1,137.68 = $ 15,358.68
now the received tax goes to the state i.e $ 1,137.68
Therefore,
the net sales revenue credited to the account
= total cash received - sales tax on the goods sold
or
the net sales revenue credited to the account = $ 15,358.68 - $ 1,137.68
or
the net sales revenue credited to the account = $ 14,221
