Sales Revenue for Joe's Sporting Goods for the Current Period

Sales revenue for Joe's Sporting Goods for the current period amounted to $215,000. Joe's Sporting Goods records GST when merchandise is sold. All sales are on account. The GST rate is 5%. The journal entry would include a debit to:

A) Accounts Receivable for $215,000.
B) Accounts Receivable for $225,750.
C) GST Payable for $10,750.
D) Sales Revenue for $215,000.

Correct Answer:

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