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:

Hydrogen Fuel

A clean energy source that, when consumed in a fuel cell, produces only water as a byproduct, offering a potential alternative to fossil fuels.

Net Energy

The difference between the energy expended to harvest an energy source and the amount of energy gained from that harvest.

Ozone

A molecule made of three oxygen atoms, significant in the stratosphere where it protects life by absorbing harmful ultraviolet radiation.

Hydrogen Gas

A colorless, odorless, and highly flammable gas, the lightest and most abundant element in the universe, used in various industrial processes.