Question
22) Flat Tire Company sold tires to a charge customer, including PST and GST. What entry is required to record this transaction? A) Debit Cash,
22) Flat Tire Company sold tires to a charge customer, including PST and GST. What entry is required to record this transaction?
A) Debit Cash, credit Sales, Debit Cost of Goods Sold, Credit Inventory
B) Debit Cash, credit Sales, credit GST Payable, credit PST Payable, Debit Cost of Goods Sold, Credit Inventory
C) Debit Accounts Receivable, credit Sales, Debit Cost of Goods Sold, Credit Inventory
D) Debit Accounts Receivable, credit Sales, credit GST Payable, credit PST Payable, Debit Cost of Goods Sold, Credit Inventory
26) Chan Company sold $500.00 of goods to Abdel Company on account, terms 2/10, n/30, and 5% PST. What was the amount of the invoice? (Show your computations.)
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