Abba offers 5% cash discount on goods worth N10 000, The discount allowed account is
FINANCIAL
JAMB 2008
Abba offers 5% cash discount on goods worth N10 000, The discount allowed account is to be?
- A. debited with N10 000
- B. credited with N10 000
- C. debited with N500
- D. credited with N500
Correct Answer: C. debited with N500
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