Question on: JAMB Accounting - 2023
The discount column on the left-hand side of cash book represents a discount
A
received from a debtor
B
allowed to a creditor
C
allowed to a debtor
D
received from a creditor
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Correct Option: B
The discount column on the left-hand side of a cash book typically represents the discounts allowed to creditors. This column records the discounts given to suppliers or creditors when payments are made promptly, which reduces the amount payable to them.
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