In a Cash Book with discount columns, the total of the 'Discount Received' column is posted to the:
A. Debit of Creditors A/c
B. Credit of Discount Received A/c
C. Debit of Discount Received A/c
D. Credit of Cash A/c
Answer: Option B
Solution (By JKSSB Mock Tests)
Discount Received is a gain (nominal account rule: credit all gains), so the periodic total is posted to the credit side of the Discount Received ledger account.
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