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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![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
OB
HST Receivable
Cash
HST Payable
HST Receivable
HST Recoverable
OC HST Payable
HST Recoverable
Cash
OD. HST Recoverable
HST Payable
Cash
Click to select your answer.
900
4,200
720
4,200
4,200
960
4,920
3,240
900
teston nep
3,240
900
attem](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc673e80e-1969-48dd-9ffe-89da1d7f4c6b%2F6afd85cd-e77b-4627-bba3-39569eb6fbb7%2Fxs21pqn_processed.png&w=3840&q=75)
Transcribed Image Text: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
OB
HST Receivable
Cash
HST Payable
HST Receivable
HST Recoverable
OC HST Payable
HST Recoverable
Cash
OD. HST Recoverable
HST Payable
Cash
Click to select your answer.
900
4,200
720
4,200
4,200
960
4,920
3,240
900
teston nep
3,240
900
attem
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