9. Current Liabilities
Sales Tax Payable
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Open QuestionABC Company sold subscriptions to customers based on the following timeline:
September 1 Sold one-year subscriptions, collecting cash of $3,600, plus sales taxes of 10%.
October 31 Paid the sales taxes to the state taxing authority.
December 31 Recorded necessary year-end adjusting entries
Prepare journal entries for each of the events provided.
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