This chapter discusses Sales Tax. It is made clear that when a business sells taxable...
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Accounting
This chapter discusses Sales Tax. It is made clear that when a business sells taxable goods to a customer, Sales Tax is recorded as a "payable", and never an "expense".
In your own words, explain the difference between a "payable" and an "expense". Provide a sentence or two on why Sales Tax is always recorded as a 'payable".
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