Urgent ABC Company sells products in a state where the...
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Accounting
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ABC Company sells products in a state where the sales tax rate is 10 percent. ABC began Year 2 with $100,000 in Inventory and Retained Earnings. ABC Company engaged in the following transactions for Year 2 . 1. Cash sales, not including sales tax, for Year 2 amounted to $30.000cash. 2. Cost of goods sold was $18,000 for the year. 3. Paid $3,600 in operating expenses for the year. 4. Paid $2,250 in sales tax collected to the state agency. What is ABC Company's Sales Tax Payable balance at the end of Year 2?. $2.250 5750 50 $3,000
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