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
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