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    Question

    The total of the discount column on the debit side of a

    cashbook is posted to the:
    A Debit side of the discount allowed account in the ledger Correct Answer Incorrect Answer
    B Credit side of the discount allowed account in the ledger Correct Answer Incorrect Answer
    C Debit side of the discount received account in the ledger Correct Answer Incorrect Answer
    D Credit side of the discount received account in the ledger Correct Answer Incorrect Answer

    Solution

    At the end of the month, the total of the discount allowed column on the debit side of the cash book is posted to the debit side of the Discount allowed account. The total of the discount received column on the credit side of the cash book is posted to the credit side of the Discount received account.

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