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 - SchoolNGR

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Alaka who owed Saka #15,000, settled his debt after deducting cash discount of ...

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

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Take Free Practice Test On 2026 JAMB UTME, Post UTME, WAEC SSCE, GCE, NECO SSCE

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

Correct Answer: Option D

Explanation:
Debit cash account and credit discount allowed account

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