What will be recorded as discount received in the company’s book?

By: |Published on: Dec 9|Categories: Accounting JAMB| 0 comments

Hauwa Ltd bought 10bags of rice for N500 each. The company was given 5% AND 12% trade and cash discounts respectively. What will be recorded as discount received in the company’s book?

A. N250
B. N570
C. N600
D. N850

Correct Answer:

Option C – N600

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