Accounting for IGCSE & O level - Accounting Procedures (Section 8 - No. 47)
If $200 of discount allowed was omitted, what is the impact on the expenses and capital?
Expenses understated, Capital unaffected.
Expenses overstated, Capital unaffected.
Expenses unaffected, Capital overstated.
Expenses unaffected, Capital understated.
Explanation
Expenses overstated, Capital unaffected.
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