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Lately Inc. sells merchandise to its customers in the first quarter of 2020 and collects $410,750. The amount collected includes sales tax of 6%. The sales tax amount will be submitted to taxing authorities on a quarterly basis with the next payment due April 5, 2020. Assuming no other transactions affecting sales tax, what is the balance in Sales Taxes Payable on March 31, 2020?Select one:a. $0b. $69,750c. $24,645d.$23,250e. $7,750

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