Recorded the​ week's sales of $ 62000​, ​three-fourths on credit and​ one-fourth for cash. Sales amounts are subject to a​ 6% state sales tax. Ignore cost of goods sold.

Answer 1

To break down the week's sales and the state sales tax, we can follow these steps:

1. Total Sales: $62,000
2. Sales on Credit: \( \frac{3}{4} \times 62,000 = 46,500 \)
3. Sales for Cash: \( \frac{1}{4} \times 62,000 = 15,500 \)

Next, we need to calculate the sales tax on the total sales:

4. Sales Tax Rate: 6% (or 0.06)
5. Total Sales Tax: \[ \text{Sales Tax} = 62,000 \times 0.06 = 3,720 \]

Now, we can summarize the information:

• Total Sales: $62,000
• Sales on Credit: $46,500
• Sales for Cash: $15,500
• Sales Tax: $3,720

Summary:

• Total Sales: $62,000
• Sales on Credit: $46,500
• Sales for Cash: $15,500
• Sales Tax (6%): $3,720

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