(2 points) S operates in a business environment with a 4% state sales tax rate and a 5.5% county sales tax rate. The state allows S to keep 1% of the sales tax it collects, however, the county requires S to remit 100% of the state sales tax it collects. During June, S recorded the sales taxes in its sales revenue account. S’s sales revenue account for June had a credit balance of $821,250. S prepares AJEs monthly. Assume S remits the sales taxes to the state and the county on July 10. Prepare the entries S made (1) as of 06-30 to reflect the sales tax it will remit to the state and to the county and (2) on 07-10 to reflect payment to the state and the county
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