The agreed cost of an item to be purchased by a business on credit is $4,000. The applicable cost will be debited to advertising expense. The item is subject to 5% goods and services tax (GST) and 7% provincial sales tax (PST). When this transaction is recorded, what amount will be credited to accounts payable? A None of these answers is correct C $4,000 8 $4,480 D $4,240 $4,200