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Ye Olde Shoppe Operates in a Province with a 6

Question 51

Multiple Choice

Ye Olde Shoppe operates in a province with a 6% PST.The store must also collect 5% GST on all sales.For the month of May, Ye Olde Shoppe sold $90,000 worth of goods to customers, 60% of which were cash sales and the balance being on account.Based on the above information, what is the total debit to accounts receivable for the month of May?


A) $59,940
B) $39,960
C) $37,800
D) $36,000

Correct Answer:

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