Accounts - Principles of Accounts
WAEC 2020
Kwamenah bought goods worth Le 50,000 from Doe and Sons Limited on the following terms: 3% trade discount: 10% cash discount. Kwamenah returned defective goods worth Le 8,000 the next day and made payment for the
remaining goods on the due date.
Kwamenah would record the 10% discount in the
-
A.
sales journal
-
B.
cash book
-
C.
purchases journal
-
D.
journal proper
Correct Answer: Option C
Explanation
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