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Accounts (Principles of Accounts) · Double entry and the ledger

Accounts (Principles of Accounts)Double entry and the ledgerJAMB

Discount allowed of ₦2,000 to Bisi, a debtor, is recorded by

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Answer: C. debiting discount allowed account and crediting Bisi's account

Discount allowed is an expense (debit) and reduces what Bisi owes (credit).

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