【文章內(nèi)容簡介】
oods and services are zerorated. . foodstuffs and children clothing Add zero sales tax to their outputs, but still able to reclaim the sales tax on inputs in full 14 5 Accounting for sales tax Sales tax values is shown separately, so all purchases, expenses and sales are exclusive of sales tax , unless the sales tax is irrecoverable. Receivables and payables are inclusive of sales tax Entry for sales: Dr. Cash/ Receivables Cr. Sales Sales tax payable (output) Entry for purchases: Dr. Purchase Sales tax payab