Multiple Choice
Michelin Jewellers completed the following transactions. Michelin Jewellers uses the perpetual inventory system. On 2 April, Michelin sold $9 900 of inventory, including GST, to a customer on credit with terms of 3/15, n/30. Michelin's cost of the inventory sold was $5 000, net of GST. On 4 April, the customer reported damaged goods and Michelin granted a $1 100 sales allowance, including GST. On 10 April, Michelin received payment from the customer. How much cash was received from the customer?
A) $8 800
B) $8 536
C) $8 730
D) $3 800
Correct Answer:

Verified
Correct Answer:
Verified
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