Hauwa Ltd bought 10bags of rice for N500 each. The company was given 5% AND…

Accounts - Principles of Accounts JAMB 2001

Hauwa Ltd bought 10bags of rice for N500 each.
The company was given 5% AND 12% trade and cash discounts respectively. What will be recorded as discount received in the company’s book?

  • N250
  • N570
  • N600 checkmark
  • N850

The correct answer is: C

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