Difference between revisions of "Sales Tax Payable"

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Revision as of 08:39, 20 December 2018

Sales Tax Payable account is an account in the general ledger that accumulates the amount of sales tax owed. It has a credit balance.


Definitions

According to College Accounting: A Practical Approach by Slater (13th edition)‎,

Sales Tax Payable account. An account in the general ledger that accumulates the amount of sales tax owed. It has a credit balance.

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