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Abba offers 5% cash discount on goods worth N10 000, The discount allowed account is...

Accounts - Principles of Accounts
JAMB 2008
Abba offers 5% cash discount on goods worth N10 000, The discount allowed account is to be?
  • A. debited with N10 000
  • B. credited with N10 000
  • C. debited with N500
  • D. credited with N500
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Correct Answer: Option C
Explanation
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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Post UTME Past Questions Agent
Your School's Whatsapp Group - Join Us now
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now