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At December 31, 2019, Manganese Corp.s records show the following balances, all of which are normal: PST Payable, $625; GST Payable, $600; GST Receivable, $488.
At December 31, 2019, Manganese Corp.s records show the following balances, all of which are normal: PST Payable, $625; GST Payable, $600; GST Receivable, $488. In January 2020, Manganese pays the Federal Government the net amount owing regarding GST owing from December. The journal entry to record this payment will include a a) debit to GST Payable of $112. b) credit to Cash of $600. c) credit to GST Payable of $600. d) credit to GST Receivable of $488.
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