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ACCOUNT

JAMB 2020 - Question 9

Account 2020 JAMB Past Questions - Question 9: If the total discount allowed in a cash book was N230 and the total discount received was N255, which of the following is true concerning the two discounts?

Choose the most appropriate option for the gap .

If the total discount allowed in a cash book was N230 and the total discount received was N255, which of the following is true concerning the two discounts?

A: They must be balanced in the cash book and the difference taken to the debtors ledger

B: They must be balanced in the cash book and the difference taken to the trial balance

C: They should not be balanced in the cash book before being taken to the trial balance

D: They should not appear in the trial balance as they were already either received or paid out.

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ACCOUNT

Account 2020 JAMB Past Questions - Question 9: If the total discount allowed in a cash book was N230 and the total discount received was N255, which of the following is true concerning the two discounts?

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Correct Answer

Explanation