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

Accounts - Principles of Accounts JAMB 2020

Danjuma Ltd. bought 10 bags 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?

  • ₦250
  • ₦570
  • ₦850
  • ₦600 checkmark

The correct answer is: D

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