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A company which is VAT-registered receives an invoice for goods purchased for resale totaling $2,585 from a supplier that is not VAT-registered. VAT is at the rate of 17.5%.
A company which is VAT-registered receives an invoice for goods purchased for resale totaling $2,585 from a supplier that is not VAT-registered. VAT is at the rate of 17.5%.
The correct entry to record the invoice is:
A)
B)
C)
D)
A . Exhibit A
B . Exhibit B
C . Exhibit C
D . Exhibit D
Answer: A
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