Abba offers 5% cash discount on goods worth N10,000, The discount allowed account is to be?
Debited with N10,000
Credited with N10,000
Debited with N500
Credited with N500
Correct answer is C
No explanation has been provided for this answer.
Real entry
Special entry
Direct entry
Contra entry
Correct answer is D
No explanation has been provided for this answer.
N71,250 credit
N71,250 debit
N95,000 credit
N95,000 debit
Correct answer is A
No explanation has been provided for this answer.
i and ii
i and v
ii and iv
iii and v
Correct answer is A
No explanation has been provided for this answer.
i and v
ii and iv
ii and vi
iii and iv
Correct answer is D
No explanation has been provided for this answer.