10-5B. Excise and Sales Tax Calculations Allied Company has just billed a customer for $1,160,...
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10-5B. Excise and Sales Tax Calculations Allied Company has just billed a customer for $1,160, an LO1 amount that includes a ten percent excise tax and a six percent state sales tax a. What amount of revenue is recorded? b. Prepare a journal entry to record the transaction on the books of Allied Company
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