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Natasha2012 [34]
3 years ago
8

A retail store credited the sales revenue account for the sales price and the amount of sales tax on sales. if the sales tax rat

e is 5% and the balance in the sales revenue account amounted to $294,000, what is the amount of the sales taxes owed to the taxing agency? $14,000 $14,700 $280,000 $294,000
Business
1 answer:
alexira [117]3 years ago
8 0
We have to calculate the amount of the sales taxes owed to a taxing agency.
The tax rate is 5% ( 0.05 ) and the balance in the sales revenue account amounted to $294,000.
$294,000 * 0.05 = $14,700
Answer:
Amount of the sales taxes is B ) $14,700.
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