The following activities occur for ABC County. Sales taxes are shared between the county, the...
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Accounting
The following activities occur for ABC County. Sales taxes are shared between the county, the towns located within the county, and the state, with 50% retained by the county for general use, 30% to be transmitted to the state, and 20% to be distributed to the towns. Using the attached T-account template or a spreadsheet with proper classifications and account names, prepare the journal entries to record the above activities in each fund
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