The discount column on the left-hand side of cashbook represents a discount

  • A received from a creditor
  • B allowed to a debtor
  • C received from a debtor
  • D allowed to a creditor
jamb 2017accounting

The correct answer is B. allowed to a debtor

Allowed to a debtor: the debit side of the cashbook is where all proceeds from sales are recorded and have to be matched with the discount allowed to the debtor /creditor

Previous question Next question