28) HST collected by the seller increases the seller's total revenue.

Answer:TRUE OR FALSE

29) Provincial Sales Tax Payable represents an asset on the books of the seller.

Answer:TRUE OR FALSE

30) Sue's Jewelry sold 25 necklaces for $25 each to a credit customer. The cost of the necklaces to Sue's Jewelry was $15 plus 5% GST.The invoice included a 6% provincial sales tax, 5% GST, and payment terms of 2/10, n/30. Five necklaces were returned prior to payment. The entry to record the original sale would include

A) a debit to Accounts Receivable for $693.75.

B) a debit to Accounts Receivable for $625.

C) a credit to Sales for $693.75.

D) a debit to Sales for $625.

31) Sue's Jewelry sold 25 necklaces for $25 each to a credit customer.The cost of the necklaces to Sue's Jewelry was $15 plus 5% GST.The invoice included a 6% provincial sales tax, 5% GST, and payment terms of 2/10, n/30. Five necklaces were returned prior to payment. The entry to record the original sale would include

A) a credit to Inventory for $75.

B) a credit to Inventory for $84.75.

C) a debit to Sales Returns and Allowances for $75.

D) a debit to Sales Returns and Allowances for 84.75.