Question

Becky Sherrick Company has total proceeds from sales of $4,515. If the proceeds include sales taxes of 5%, the amount to be credited to Sales Revenue is?

Answer 1

$4,300

Step-by-step explanation:

The total proceeds from the sales are $4,515. Considering that the sales tax is 5%.The total credit amount for the company will be:

=Sales/(1+t)

= $4,515 / 1.05 = $4,300

The total amount to be credit is $4,300