JAMB - Accounts Principles Of Accounts (2023 - No. 37)
The discount column on the left-hand side of cash book represents a discount
received from a debtor
allowed to a creditor
allowed to a debtor
received from a creditor
Explanation
The discount on the left hand side is known as discount allowed and it is given by a firm to its customers when they pay their accounts quickly or promptly.
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