sage inc. experienced the following transactions for year ...
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sage inc. experienced the following transactions for year
https:// Chapter 9 5 Required information (The following information applies to the questions displayed below) The following selected transactions apply to Topeca Supply for November and December Year 1 November was the first month of operations. Sales tax is collected at the time of sale but is not paid to the state sales tax agency unbl the following month points 1. Cash sales for November Year 1 were $64,500 plus sales tax of 7 percent 2 Topeca Supply paid the November sales tax to the state agency on December 10. Year 1 3. Cash sales for December Year 1 were $78,500 plus sales tax of 7 percent e. Show the effect of the above transactions on a statements model like the one shown as follows In the Statement of Cash Flows column, in indicate that an element is not affected by the event (Enter ony decreases to account balances and cash outflows withminus whether the item is an operating activity (OA), an investing activity (IA), or a financing activity (FA). The letters NA Horizontal Statements Model
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