Question

Montana Company sold merchandise with a retail price of $ 29 comma 000 for cash. Montana Company is required to collect 6 ​% state sales tax. The total cash received from customers​ was

Answer 1

Answer:

The total cash received is $30740.

Step-by-step explanation:

Montana Company sold merchandise with a retail price of $ 29,000 for cash. Montana Company is required to collect a 6 ​% state sales tax.

Therefore, the total cash received from customer = Retail Price + State Sales Tax.

= $29000 + 29000 \times \frac{6}{100}$

= $30740

Hence, the total cash received is $30740. (Answer)