JAMB Accounting 2008 Objective — Question 25

Question 25 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2008 Objective paper, with the correct answer and a full explanation.

Discount allowed as represented in the control account appears on the

A. credit side of the purchases control account
B. debit side of the purchases control account
C. credit side of the sales control accountCorrect
D. debit side of the sales control account

Explanation

Treatment of discount allowed is: Dr Discount allowed A/c; Cr Sales ledger A/c, which appears on the credit side of the sales control account.

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