Alaka who owed Saka N15,000, settled his debt after deducting cash discount of 10%. To record the discount in the book of Saka, debit - SchoolNGR

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Alaka who owed Saka N15,000, settled his debt after deducting cash discount of 10%. To ...

Alaka who owed Saka N15,000, settled his debt after deducting cash discount of 10%. 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 Saka's account and credit discount received account
B Alaka's account and credit discount received account
C Discount received account and credit Alaka's account
D Discount allowed account and credit Alaka's account

Correct Answer: Option A

Explanation:
Alaka is a debtor to saka we therefore
debit saka's cash accountÂ and credit allowedÂ account

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