Question: If Able Ltd, registered for GST, purchased inventory from a supplier for $9 000 (excluding GST), returned $1 500 worth of inventory (excluding GST) two
If Able Ltd, registered for GST, purchased inventory from a supplier for $9 000 (excluding GST), returned $1 500 worth of inventory (excluding GST) two days later and then paid the account within the discount period to take advantage of a 2% discount, what amount would Able Ltd record for discount received?
a.
$165
b.
$150
c.
$147
d.
$168
e.
None of the above
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