S1: A triple column cash book has a discount column on both sides. S2: Discount allowed is debited and discount received is credited. Which statement(s) is/are correct?
Explanation:
A triple column cash book has cash, bank, and discount columns on both debit and credit sides. Discount allowed (an expense) is recorded on the debit side, and discount received (an income) is recorded on the credit side. Both are correct.
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