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At the End of the Quarter, Company 21 Had Invoiced

Question 60

Multiple Choice

At the end of the quarter, Company 21 had invoiced total PST of $ 5,500. The entry to record the quarterly remittance would require the following entry plus a cheque made out to ___.


A) Dr. PST Payable, the Minister of Finance
B) Dr. PST Recoverable, the Minister of Finance
C) Dr. PST Payable, the Receiver General for Canada
D) Dr. PST Recoverable, the Receiver General for Canada

Correct Answer:

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