The discount column on the left-hand side of cash book represents a discount
FINANCIAL
JAMB 2023
The discount column on the left-hand side of cash book represents a discount
- A. received from a debtor
- B. allowed to a creditor
- C. allowed to a debtor
- D. received from a creditor
Correct Answer: C. allowed to a debtor
Explanation
The discount on the left hand side is known as discount allowed and it is given by a firm to its customers when they pay their accounts quickly or promptly.
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