A. N2760
B. N4 300
C. N6 200
D. N2.400
Correct Answer:
Option A – N2760
Explanation
cash balance = debit side of the cash column – credit side of cash column. Hence we have;
Discount allowed = 0.02 x 2000 = 40
Debit column = 3000 + 1000 + 2000 + 200 = 6200
6200 – 40 (cash discount) = 6160
credit column = 200 + 3000 + 200 = 3400
6160 – 3400 = 2760
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