WAEC - Accounts Principles Of Accounts (2020 - No. 27)
Kwamenah bought goods worth Le 50,000 from Doe and Sons Limited on the following terms: 3% trade discount: 10% cash discount. Kwamenah returned defective goods worth Le 8,000 the next day and made payment for the
remaining goods on the due date.
Kwamenah would record the 10% discount in the
sales journal
cash book
purchases journal
journal proper
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