Accounting JAMB

Abba offers 5% cash discount on goods worth N10000. The discount allowed account is to be?
Abba offers 5% cash discount on goods worth N10000. The discount allowed account is to be?Abba offers 5% cash discount on goods worth N10000. The discount allowed account is to be?

A. debited with N10 000
B. credited with N10 000
C. debited with N500
D. credited with N500

Correct Answer:

Option C – debited with N500

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