Waec Model Questions Vol1 2024 Financial Accounting Question 42
Practice objective / multiple choice question 42 from the 2024 Waec Model Questions Vol1 Financial Accounting examination.
During a month the following journal entries were recorded (debit side only): 1. Purchases on credit - ₦40,000. 2. Freight‑in paid in cash - ₦3,000. 3. Cash received from customers for sales - ₦70,000. 4. Cash paid to suppliers, which settles the purchase in (1) after taking a cash discount (the discount amount is not shown). The total of the debit column in the journal is ₦152,200. What is the amount of cash discount taken on the purchase?
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About This Question
This is Waec Model Questions Vol1 2024 Financial Accounting Question 42. It is one of the objective questions from the 2024 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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