The total of the discounts received column in the cash bo...
The total of the discounts received column in the cash book is posted to the?
Credit of the discounts received account
Debit of the discounts allowed account
Credit of the discounts allowed account
Debit of the discounts received account
Correct answer is A
The discounts allowed column is on the debit side, while the discounts received column is on the credit side.
The total of the discount column on the credit side represents the total cash discount received from suppliers during the period and is posted to the discount received account maintained in the ledger.
The part of capital issued only at the time of liquidation of the company is ...
When a share is sold for less than its nominal value, the difference is debited to ...
Which of the following is not part of cost of production? ...
The salary of a shop keeper who sells goods would be charged in the ...
When the debit side total of an account, it means that the account has ...
The excess revenue over expenditure is charged to ...
The source document sent by the seller to the buyer when goods are returned is ...
In a modern day banking system, cash transfer cannot be made where the transferer ...
\(\begin{array}{c|c} & \text{Dr GH¢} & \text{Cr GH¢} \\ \hline Advertising & 3...