Waec Model Questions Vol1 2024 Financial Accounting Question 41
Practice objective / multiple choice question 41 from the 2024 Waec Model Questions Vol1 Financial Accounting examination.
A cash book for the month shows an opening cash balance of ₦8,000. The cash receipts recorded are: cash sales ₦25,000; collection from debtors ₦15,000; and cash received from a credit sale of ₦6,000 after allowing a cash discount (the discount amount is not shown). The cash payments recorded are: cash purchases ₦20,000; wages ₦5,000; rent ₦3,000; and a bank loan repayment ₦2,000. The closing cash balance is ₦23,400. What is the cash discount percentage allowed on the ₦6,000 credit sale?
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About This Question
This is Waec Model Questions Vol1 2024 Financial Accounting Question 41. It is one of the objective questions from the 2024 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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