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25) Determine the amount of cash collected at the time of making a sale of $1,200 worth of merchandise subject to a 6% provincial sales tax plus 5% GST. 26) Chan Company sold $500.00 of goods to Abdel Company on account, terms 2/10, n/30, and 5% PST. What was the amount of the invoice? (Show your computations.) 27) The normal balance of Provincial Sales Tax Payable is a credit. Answer: TRUE OR FALSE 28) HST collected by the seller increases the seller's total revenue. Answer: TRUE OR FALSE 29) Provincial Sales Tax Payable represents an asset on the books of the seller. Answer: TRUE OR FALSE 30) Sue's Jewelry sold 25 necklaces for $25 each to a credit customer. The cost of the necklaces to Suc's Jewelry was $15 plus 5% GST. The invoice included a 6% provincial sales tax, 5% GST, and payment terms of 2/10, n/30. Five necklaces were returned prior to payment. The entry to record the original sale would include A) a debit to Accounts Receivable for $693.75. B) a debit to Accounts Receivable for $625. C a credit to Sales for $693.75. Dj a debit to Sales for $625. 31) Suc's Jewelry sold 25 necklaces for $25 each to a credit customer. The cost of the necklaces to Sue's Jewelry was $15 plus 5% CST. The invoice included a 6% provincial sales tax, 5% GST, and payment terms of 2/10, n/30. Five necklaces were returned prior to payment. The entry to record the original sale would incluck A) a credit to Inventory for $75. B) a credit to Inventory for $84.75. C) a debit to Sales Returns and Allowances for $75. Dj a debit to Sales Returns and Allowances for 84 75. 32) Net Sales equals Gross Sales plus HST, less Sales Returns & Allowances, less Sales Discounts, Answer. TRUE OR FALSE 33) Use the following information to answer the questions below: Sales HST Collected $73,400 Sales Discount 9,542 Sales Returns and Allowances 1,500 Delivery Expernie 900 700 The Net Sales are