The discount column on the left-hand side of cashbook represents a discount
FINANCIAL
JAMB 2017
The discount column on the left-hand side of cashbook represents a discount
- A. received from a creditor
- B. allowed to a debtor
- C. received from a debtor
- D. allowed to a creditor
Correct Answer: B. allowed to a debtor
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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