Abba offers 5% cash discount on goods worth N10 000, The discount allowed account is…

Accounts - Principles of Accounts JAMB 2008

Abba offers 5% cash discount on goods worth N10 000, The discount allowed account is to be?

  • debited with N10 000
  • credited with N10 000
  • debited with N500 checkmark
  • credited with N500

The correct answer is: C

Explanation

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