JAMB Accounting 2019 Objective — Question 32

Question 32 of 40 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2019 Objective paper, with the correct answer and a full explanation.

In a three-column cash book, the discount allowed is shown on the

A. credit side
B. memorandum column
C. debit sideCorrect
D. folio column

Explanation

Discount allowed is recorded on the debit side of a three-column cash book, since it occurs when debtors pay (recorded alongside the debit-side cash/bank receipts).

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