Accounting for IGCSE & O level - Accounting Procedures (Section 11 - No. 9)
What effect does a discount received from a supplier have on the balance of the purchases ledger control account?
Increases the balance.
Decreases the balance.
Has no impact on the balance.
Reverses the balance.
Explanation
A discount received lowers the amount owed to suppliers, thus decreasing the control account's balance.
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