A cash discount given to a customer should be recorded by:
A) Dr. Customer's account Cr. Discount received account
B) Dr. Customer's account Cr. Discount allowed account
C) Dr. Discount allowed account Cr. Customer's account
D) Dr. Discount received account Cr. Customer's account
Correct Answer:
Verified
Q1: Which of the following is a book
Q2: The company returns goods to the supplier
Q3: The cash book:
A) Records cheques received and
Q5: A trade discount:
A) Does not form part
Q6: On behalf of the business, you pay
Q7: Which of the following is not an
Q8: In the cash book a cheque written
Q9: In the cash book a cheque written
Q10: In the cash book a cheque written
Q11: In the cash book a cheque received
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