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The agreed cost of an item to be purchased by a business on credit is $4,000. The applicable cost will be debited to advertising expense. The item is subject to 5% goods and services tax (GST) and 7% provincial sales tax (PST). When this transaction is recorded, what amount will be debited to advertising expense?
a. $4,280
b. $4,480
c. $4,200
d. None of these answers is correct.
e. $4,000

Sagot :

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