WAEC Book Keeping 2024 Objective — Question 8
Question 8 of 40 from the West African Examinations Council (WAEC) Book Keeping 2024 Objective paper, with the correct answer and a full explanation.
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8. Discount received is posted to the credit side of A.
- A. petty cash book.
- B. sales ledger.
- C. profit and loss account.Correct
- D. trading account.
Explanation
Discount received is an income, thus it will show on the credit side of the profit and loss account.
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