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 22 April, Michelin received payment from the customer. How much cash was received from the customer?
A)$3 800
B)$8 536
C)$8 730
D)$8 800

Question

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The Answer of 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 22 April, Michelin received payment from the customer. How much cash was received from the customer?
A)$3 800
B)$8 536
C)$8 730
D)$8 800

Michelin Jewellers Completed the Following Transactions