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WAEC Financial Accounting 2009 Question 38

Question 38

Control Accounts

Which of the following is found in a Sales Ledger Account?

  1. A.Credit purchases
  2. B.Bill payable
  3. C.Discount received
  4. D.Discount allowed
Show the answer and explanation

Answer: D (Discount allowed)

Explanation

Discount allowed to customers reduces what debtors owe, so it appears in the sales ledger.