XYZ Ltd Provides a Service on Credit, Charging $2 000

question 20

Multiple Choice

XYZ Ltd provides a service on credit, charging $2 000 + $200 GST. The journal entry would include:

• A) DR Accounts receivable $2 000
• B) CR Sales $2 000
• C) DR GST Payable $200
• D) CR Sales $2 200

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Definitions:

United States

A country in North America consisting of 50 states and a federal district, known for its large size, diverse population, and influence in global affairs.

Europe

A continent located entirely in the Northern Hemisphere and mostly in the Eastern Hemisphere, known for its diverse cultures, languages, and histories.

Turning Point

A moment or event that marks a significant change or shift in direction, leading to new developments or transformations in various contexts, such as historical events, personal lives, or industries.

1963

A year marked by significant events such as the assassination of U.S. President John F. Kennedy, the March on Washington for Jobs and Freedom, and the height of the Cold War.