JAMB Accounting 2019 Objective — Question 36
Question 36 of 40 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2019 Objective paper, with the correct answer and a full explanation.
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Use the information below: Debtors ₦20,000; Provision for bad debts 10%; Provision for discount on debtors 5%. Determine the amount provided for discount allowed on debtors.
- A. ₦1,000
- B. ₦3,000
- C. ₦900Correct
- D. ₦1,500
Explanation
Discount allowed = 5% × (20,000 − [10%×20,000]) = 5% × 18,000 = ₦900.
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