[Solved] A Business Sold Some Inventory on Credit for $5,000 Before

Question 105
Multiple Choice

A business sold some inventory on credit for $5,000 before taxesand 7% provincial sales tax (PST). The business uses a perpetual inventory system. What is the amount of the accounts receivable that wasrecorded as a result of this sale?

A)$5,300
B)$5,350
C)$5,600
D)$5,000
E)None of these answers is correct.

10+ million students use Quizplus to study and prepare for their homework, quizzes and exams through 20m+ questions in 300k quizzes.

Business

Explore our library and get Accounting Homework Help with various study sets and a huge amount of quizzes and questions

3.5K

Study sets

66.5K

Quizzes

5.9M

Questions

Upload material to get free access

Upload Now Upload Now
Upload Now

Invite a friend and get free access

Upload NowInvite a friend
Invite a friend

Subscribe and get an instant access

See our plansSee our plans
See our plans