Airport Software Ltd. includes an 5% sales tax in the amount credited to the sales account. If the sales account has a balance of $675,250, the amount of the sales tax payable to the government is: O A. $29,347 O B. $32,155 OC. $29,450 OD. $33,763 A contingent liability that has a remote chance of occurrence should be disclosed in the financial statement footnotes. O True False Accrued interest on a short term note payable is recorded by: O A. debiting Interest Payable and crediting Cash O B. debiting Cash and crediting Interest Payable O c. debiting Interest Expense and crediting Interest Payable OD. debiting Interest Payable and crediting Interest Expense The adjusting entry to accrue interest on a note payable requires a credit to Interest Payable. True O False