BGCSE Accounting 0614 Practice Questions - Botswana BGCSE Accounting (Syllabus 0614) Exam

How is trade discount treated in the double-entry accounting records of a trader?

Debited to the trade discount account in the general ledger Credited to the discount allowed account in the general ledger Deducted on the invoice so only the net amount is recorded in the ledger Added to the gross total of the sales journal at the end of the month

Correct Answer:

Deducted on the invoice so only the net amount is recorded in the ledger

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