Question
3) Lippman Company Ltd. collects 5% GST on sales. If sales are $963,000, the proper accounting includes: A) $101,115 credit to Sales. B) $48,150 credit
3) Lippman Company Ltd. collects 5% GST on sales. If sales are $963,000, the proper accounting includes: A) $101,115 credit to Sales. B) $48,150 credit to GST Payable. C) $48,150 debit to GST Recoverable. D) $963,000 debit to Accounts Receivable .
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Computer Accounting With QuickBooks Online
Authors: Donna Kay
2nd Edition
1260888061, 9781260888065
