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Replication should not be used if timely updates are important.
Sales Taxes Payable
This account reflects the amount of sales tax collected from customers by a company on behalf of state and local governments, which is to be remitted to those governments.
Remittance
The process of sending payment from one party to another, often from a buyer to a seller or from an employer to an employee.
Liability
An entity's financial obligation or debt, incurred during business operations, that it is obligated to pay to another entity.
Interest Expense
The total charges faced by a business for financing through borrowed money over a duration.
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