Provision for discount allowed can be recorded as debit to?
FINANCIAL
JAMB 2003
Provision for discount allowed can be recorded as debit to?
- A. the profit and loss account and a credit to provision for discount allowed
- B. provision for discount allowed and a credit to the profit and loss account
- C. discount allowed and a credit to the profit and loss account
- D. expenses and a credit to customers' account
Correct Answer: A. the profit and loss account and a credit to provision for discount allowed
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