O-LevelAccountingAccounting procedures7707/11 · May/June 2013 · Q181 Mark

A trader prepares control accounts. Where will discount received be entered?

Ain the purchases ledger control account as a credit entry

Bin the purchases ledger control account as a debit entry

Cin the sales ledger control account as a credit entry

Din the sales ledger control account as a debit entry

✓ Correct answer

B: in the purchases ledger control account as a debit entry

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Topic: Accounting procedures, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2013 Paper 1 Variant 1, question 18.

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