I received payment for the first time for a cake I made . I only charged $40 which I know was low, but it was for one of my best friends. She needed it to feed 50 people and would have paid $30 for a sheet cake from grocery store so I charged $10 more since it was a 2 tier 8" and 12". She needed both chocolate and white cake so I did tiers to practice for an upcoming wedding cake I'm doing. I hope it got to its destination w/o any problems.

Just out of curiosity, how much should I have charged

I would say atleast $65 if it's for a friend. But I know others would charge even more. But again it's for a friend I'm like that too. Funny though when family and close friends do things for a living and you need then to do something for them they don't always give nice discounts. Just an observation on my part.

Oh I agree on the discounts from family and friends . Sometimes I just say oh well at least its going to someone I know.