Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 12 - No. 10)
Where is a cash discount recorded in a 3-column cash book?
On the debit side, in the discount allowed column.
On the credit side, in the discount allowed column.
On the debit side, in the discount received column.
On the credit side, in the discount received column.
Explanation
Discounts are recorded in separate columns, with discount allowed on the debit side and discount received on the credit side.
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