Gce Model Questions Vol1 2025 Financial Accounting Question 46
Practice objective / multiple choice question 46 from the 2025 Gce Model Questions Vol1 Financial Accounting examination.
A company sold goods on credit for ₦120,000. The terms were \(2\%\) cash discount if paid within 10 days, otherwise net 30 days. The customer paid within the discount period and subsequently returned goods worth ₦5,000. What amount should be recorded in the cash receipts journal for this transaction?
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About This Question
This is Gce Model Questions Vol1 2025 Financial Accounting Question 46. It is one of the objective questions from the 2025 Gce Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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