At the end of the quarter, Company 21 had a balance of $ 14,000 in their GST Recoverable account and $ 22,000 in GST Payable. The entry to record the quarterly remittance would be
A) Dr. GST Payable $ 22,000, Cr. GST Recoverable $ 14,000, Cr. Cash $ 8,000.
B) Dr. GST Recoverable $ 14,000, Dr. Cash $ 8,000, Cr. GST Payable $ 22,000.
C) Dr. GST Payable $ 8,000, Cr. Cash $ 8,000.
D) Dr. GST Recoverable $ 8,000, Cr. Cash $ 8,000.
Correct Answer:
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