Use the Following Information for Questions 100 and 101

question 136

Multiple Choice

Use the following information for questions 100 and 101.
Posner Co. is a retail store operating in a state with a 7% retail sales tax. The retailer may keep 2% of the sales tax collected. Posner Co. records the sales tax in the Sales Revenue account. The amount recorded in the Sales Revenue account during May was $251,450.
-The amount of sales taxes payable (to the nearest dollar) to the state for the month of May is

• A) $12,573.
• B) $16,121.
• C) $20,762.
• D) $17,250.

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Definitions:

Truth Values

In logic, the valuation of a statement as either true or false.

Truth Table

A mathematical table used in logic to compute the truth values of logical expressions based on their variables' truth values.

Atomic Sentences

The most basic elements of logical statements, neither composed of, nor divisible into, simpler statements.

Truth Values

The valuation in logic that indicates the truthfulness of a proposition, typically true or false.