The discount column on the left-hand side of cashbook represents a discount

Home » Past Questions » Accounts-principles-of-accounts » Jamb » 2017 » The discount column on the left-hand side of cashbook represents a discount
Accounts - Principles of Accounts JAMB 2017

The discount column on the left-hand side of cashbook represents a discount

  • received from a creditor
  • allowed to a debtor checkmark
  • received from a debtor
  • allowed to a creditor

The correct answer is: B

Explanation

Allowed to a debtor: the debit side of the cashbook is where all proceeds from sales are recorded and have to be matched with the discount allowed to the debtor /creditor
Previous Question Next Question

Leave A Comment