Accountancy, asked by mumtaz67, 5 months ago

Sales taxes collected by retailer are recorded as aDepletion is?

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Answered by Unknown5171

0

Answer:

The sales taxes collected by a retailer are not part of its sales revenues. This means that the sales taxes collected by a retailer will not be reported on its income statement. Rather, the sales taxes collected are reported on the balance sheet as a current liability until they are remitted to the government.

Explanation:

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