Discount allowed to a debtor should be credited to ___.

Customer`s/ Debtor account

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Sales Account

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Discount account

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Purchases Account

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Solution

The correct option is A
Customer`s/ Debtor account

Discount allowed reduces the assets i.e. debtors of the business & hence it is credited.

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Similar questions

Q. Cash discount allowed to a debtor should be credited to the _________ account.

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Discount allowed to a debtor should be credited to ___.

The correct option is A Customer`s/ Debtor account Discount allowed reduces the assets i.e. debtors of the business & hence it is credited.

The correct option is A
Customer`s/ Debtor account

Discount allowed reduces the assets i.e. debtors of the business & hence it is credited.