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Sales Tax Payable
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Sales Tax Payable
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9. Current Liabilities / Sales Tax Payable / Problem 9
Problem 9
A customer buys a product listed at \$200 in a state with a 7% sales tax. How much does the customer pay, and what is the impact of sales tax on the final price?
A
The customer pays \$214, and the sales tax increases the final price.
B
The customer pays \$200, and the sales tax has no impact.
C
The customer pays \$207, and the sales tax decreases the final price.
D
The customer pays \$210, and the sales tax is included in the listed price.
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