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Benny's Shoes and Feet Stuff operates in a province where HST is applicable at a rate of 12%. Last week he purchased $5,000 of shoe

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Benny's Shoes and Feet Stuff operates in a province where HST is applicable at a rate of 12%. Last week he purchased $5,000 of shoe inventory on credit. Which of the following journal entries correctly records this transaction if Benny's Shoes and Feet Stuff uses a periodic inventory system? Select one: O A. Purchases HST Recoverable Accounts Payable 5,000 600 5,600 . Inventory HST Recoverable Accounts Payable 5,000 600 5,600 C. Purchases HST Payable Accounts Payable 5,000 6000 5,600 D. Inventory HST Payable Accounts Payable 5,000 600 5,600

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