5. Hammer Hardware sold goods to James Brown on credit at a price of $2,750.00 including GST. What is the correct accounting entry to record this transaction in Hammer Hardware's books? a) Debit Accounts receivable $2,750; credit Sales $2,750 b) Debit Accounts receivable $2,750; credit Sales $2,500; credit GST collections $250 c) Debit Accounts receivable $2,500; credit Sales $2,500 d) Debit Accounts receivable $2,500, debit GST collections $250; credit Sales $2,750 6. Ben's Bikes provides a 1 year labour and parts warranty with all products sold. It is expected the 2,000 bikes will be sold for the year. Past records show that about 4% of car reque wa anty repairs at an average cost of $150 per car. What is the accounting ntry record the expected warranty expense for the year? a) Dr Warranty Expense $12,000 Cr Provision for Warranties $12,000 b) Dr Provision for Warranties $12,000 Cr Cash at Bank $12,000 $300,000 c) Dr Provision for Warranties Cr Warranty Expense $300,000 d) Dr Warranty Expense Cr Provision for Warranties $1,200 $1,200