A. carriage inwards
B. carriage outwards
C. discounts allowed
D. discounts received
Correct Answer: Option D
D. discounts received
Explanation
Discount received appears as a credit on the Profit and Loss Account. Basically, the cash discount received journal entry is a credit entry because it represents a reduction in expenses.
Veterinary medicine is the branch of medicine that deals with the prevention, diagnosis, and treatment…
Anthropology is the scientific study of human beings and their cultures. It encompasses a wide…
Sociology is the scientific study of human society, culture, and behavior. It examines the social…
Social Work is a profession dedicated to helping individuals, families, and communities to cope with…
Religious studies is an academic discipline that explores the beliefs, practices, and history of various…
Public administration is the field of study and practice that focuses on the organization and…