• 2022-06-18
    Alfred is registered for sales tax. He makes sales of $25,000 including sales tax and purchases goods for $7,000 excluding sales tax. The opening balance on the sales tax account was $500 credit. Sales tax is 20%.What is the closing balance on the sales tax account?
    A: $3,600
    B: $3,000
    C: $2,267
    D: $3,267