Alaka who owed Saka #15,000, settled his debt after deduc...
Alaka who owed Saka #15,000, settled his debt after deducting cash discount of 10percent. To record the discount in the book of Saka, debit
Discount recieved account and credit Alaka's account
Alaka's account and credit discount recieved account
Saka's account and credit discount recieved account
Discount allowed account and credit Alaka's account
Correct answer is D
Debit cash account and credit discount allowed account
A partnership on admitting a new member, revalued the business' land and building from N30,000 t...
When allotment of shares is made applicants for shares of a company become ...
The directors of Olu Ltd. recommended a dividend of 10% on 1,000,000 ordinary share capital of ...
The double entries for refund of unsuccessful application monies are, debit ...
The process of using sales ledger balance to cancel off purchases ledger balance is ...
In analyzing incomplete records, which of the following should be investigated? ...