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klio [65]
3 years ago
7

a sale is made at a lumber company for goods costing a total of $13,359 (which includes 9.5% sales tax). in the books of the lum

ber company revenue should be credited for what amount
Business
1 answer:
antoniya [11.8K]3 years ago
4 0

Answer:

$12,200

Explanation:

Sales including sales tax = $13,359

Sales tax rate = 9.5%

Let the sales be = $X

Sales tax payable = Sales * Sales tax rate

Sales tax payable = X * 9.5%

Sales tax payable = 0.095X

Sales + Sales tax = Sales including sales tax

X + 0.095X = 13,359

1.095X = 13,359

X = 13,359/1.095

X = $12,200

So, Sales = $12,200. Thus, in the books of the lumber company, Revenue should be credited for $12,200

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