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 Receivable Cash OB OC HST Payable HST Receivable HST Recoverable HST Payable HST Recoverable Cash OD. HST Recoverable HST Payable Cash 900 4.200 720 4.200 4,200 900 4,920 3,240 900 3,240 900

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 Receivable Cash OB OC HST Payable HST Receivable HST Recoverable HST Payable HST Recoverable Cash OD. HST Recoverable HST Payable Cash 900 4.200 720 4.200 4,200 900 4,920 3,240 900 3,240 900

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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