Calhoun Crockery sold merchandise; the total proceeds collected, including a 7% sales tax, amounted to $74,900. What is the amount that should be recorded as a current liability?

Calhoun Crockery sold merchandise; the total proceeds collected, including a 7% sales tax, amounted to $74,900. What is the amount that should be recorded as a current liability?

Calhoun Crockery sold merchandise; the total proceeds collected, including a 7% sales tax, amounted to $74,900. What is the amount that should be recorded as a current liability?








a. $0
b. $4,900
c. $5,243
d. $7,000









Answer: B