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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