which of the following conditions best represents the net effect of discount allowed on credit…

Accounts - Principles of Accounts JAMB 1997

which of the following conditions best represents the net effect of discount allowed on credit sales on the accounts of the business?

  • decrease in the closing balance of sales ledger control accout checkmark
  • increase in net profit
  • increase in the value of sales
  • decrease in the value of purchases in the trading account

The correct answer is: A

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