19) Which statement about sales taxes is correct?
A) The consumer is responsible for remitting the tax to the government.
B) Taxes are uniformly applied to all sale transactions.
C) Businesses can deduct the GST paid from GST collected.
D) The same products that are exempt from GST are exempt from PST.
20) Which statement about sales taxes is correct?
A) Businesses can recover the PST paid on all of their purchases.
B) Goods purchased for resale are exempt from PST.
C) Businesses remit only the GST collected on sales transactions.
D) The same products that are exempt from HST are exempt from PST.
21) A company, using a perpetual inventory system, sells goods on credit for $10,000. The applicable PST rate is 5% and the cost of goods sold was $6,000. Sales taxes are remitted on a monthly basis. Prepare the necessary journal entries for this transaction.