JAMB Accounting 2009 Objective — Question 11

Question 11 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2009 Objective paper, with the correct answer and a full explanation.

11. Cash discount is often recorded on

A. the debit side of the cash book
B. the credit side of the cash book
C. the folio column of the cash book
D. both credit and debit side of the cash bookCorrect

Explanation

Cash discounts can appear on both sides of the cash book, depending on whether it is discount allowed (debit side) or discount received (credit side).

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