Cash book
Example 5: Accounting for sales tax
following information relates to Eva Co's sales tax for the month of March 20×3: \( \$ \)
(including sales tax)
chases (net of sales tax)
\[
\begin{array}{c}
\$ \\
109,250 \\
64,000
\end{array}
\]
s tax is charged at a flat rate of \( 15 \% \). Eva Co's sales tax account showed an op it balance of \( \$ 4,540 \) at the beginning of the month and a closing debit balar 20 at the end of the month.
was the total sales tax paid to regulatory authorities during the month of ?
er: \( \$ 11,910 \)
(moment cied outputax
Lialil
SALES TAX CONTROL ACCOUNT