Ali (anonymous)

Hi Alan,
Assume a company collected Gst/Hst on sales 100$ and paid 150$ Gst/Hst on purchases. The company received 50$ cheque to be deposited in the company’s account. To report the 50$, on the Trial Balance sheet, the Bank Account will be debited 50$ and the Shareholder’s Advances Account will be credited 50$, or I have to credit Receivable Account? Could you advise please?
Thank you