Discount received is charge to
...Discount received is charge to
Current account
Profit and loss
Trading account
Balance sheet
Correct answer is B
Discount received is treated as income to the business hence it is credited to the profit and loss.
Which of the following is not an accounting convention? ...
Which of the following is not correct? ...
\(\begin{array}{c|c} & Halima & Ibinabo \\ & N & N \\ \hline \text{Capital accounts ...
Which of the following item is not treated in the profit and loss account? ...