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Cash receipts and payments involving discounts are entered in

Accounts - Principles of Accounts
JAMB 2025

Cash receipts and payments involving discounts are entered in

  • A. two-column cash book
  • B. analytical cash book
  • C. three-column cash book
  • D. petty cash book
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Correct Answer: Option C
Explanation

A three-column cash book records cash receipts and payments, including discounts. It has separate columns for discount, cash, and bank transactions, allowing discounts to be recorded alongside cash and bank entries.

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 127076
WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Post UTME Past Questions Agent
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC offline past questions - with all answers and explanations in one app - Download for free
Post UTME Past Questions Agent