The discount column on the left-hand side of cashbook represents a discount
-
A.
received from a creditor -
B.
allowed to a debtor -
C.
received from a debtor -
D.
allowed to a creditor
Correct Answer: Option B
Explanation
Allowed to a debtor: the debit side of the cashbook is where all proceeds from sales are recorded and have to be matched with the discount allowed to the debtor /creditor