Kleen Windows Received $770 (Including GST) from Its Customer John

question 51

Multiple Choice

Kleen Windows received $770 (including GST) from its customer John Jones for services previously supplied to him on credit. Which of the following entries correctly records this receipt?

• A) DR Debtors $770; CR Bank $770
• B) DR Bank $770; CR Debtors $770
• C) DR Bank $770; CR Services revenue $700; CR GST payable $70
• D) DR Debtors $770; CR Services revenue $700; CR GST payable $70

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Definitions:

Succession Planning

A strategy for identifying and developing future leaders within a company or organization at all levels.

High-Potential Employees

Employees identified within an organization as having the abilities, motivations, and potential to climb the leadership ladder faster than their peers.

Developing

Refers to the process of growth, progress, or evolution in any field or aspect.

Career Management System

A structured process for planning and managing an individual's career development and growth opportunities within and across organizations.