Question on: JAMB Accounting - 2013
Alaka who owed Saka #15,000, settled his debt after deducting cash discount of 10percent. To record the discount in the book of Saka, debit
A
discount recieved account and credit Alaka's account
B
Alaka's account and credit discount recieved account
C
Saka's account and credit discount recieved account
D
discount allowed account and credit Alaka's account
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Correct Option: D
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