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BGCSE Accounting 1442 Practice Questions - BEC BGCSE BSSE Accounting (Syllabus 1442) Exam

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A trader's cash book shows a bank column debit balance of P12,000. Customer M. Tau pays an outstanding debt of P3,000 by cheque, taking advantage of a 5% cash discount for prompt settlement. What is the updated bank column debit balance in the cash book?
Correct Answer:
P14,850

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