Benny's Bagels operates in a province that has HST collected by the federal government at a...
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Benny's Bagels operates in a province that has HST collected by the federal government at a rate of 12%. During the month of December 2019 Benny's Bagels purchased baking materials for $12,000, bought a new oven for $15,000; paid salaries of $14,000; and, had cash sales of $35,000. What is the correct journal entry to record the payment of the HST amount owing at the end of December? OA. HST Payable HST Recoverable Cash OB. HST Receivable Cash OC. HST Recoverable HST Payable Cash O D. HST Payable 4,200 960 4,200 4,200 3,240 960 960 3,240 960 Benny's Bagels operates in a province that has HST collected by the federal government at a rate of 12%. During the month of December 2019 Benny's Bagels purchased baking materials for $12,000, bought a new oven for $15,000; paid salaries of $14,000; and, had cash sales of $35,000. What is the correct journal entry to record the payment of the HST amount owing at the end of December? OA. HST Payable HST Recoverable Cash OB. HST Receivable Cash OC. HST Recoverable HST Payable Cash O D. HST Payable 4,200 960 4,200 4,200 3,240 960 960 3,240 960
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Related Book For
A Survey of Mathematics with Applications
ISBN: 978-0134112107
10th edition
Authors: Allen R. Angel, Christine D. Abbott, Dennis Runde
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