A sole trader purchased goods in cash worth N2000 at 2% discount and made a cash sale of N1000 at the same rate of discount. Determine the amount of discount allowed? By: Sunday|Published on: Dec 5|Categories: Accounting JAMB| 0 comments A. N20 B. N40 C. N400 D. N200 Correct Answer: Option A – N20 Users Also Read These:When discount is allowed, the accounting entry is…Cash discount is allowed in consideration of?Cash discount received is shown in the i. cash ii.…Alaka who owed Saka #15000 settled his debt after…In a three-column cash book; the discount allowed is…SEE ALSO The correct entries to record goods transferred to branch from head office is to debit?