Question

24. Which item will appear on the
credit side of ledger account?
Cash
Purchases
Discount received
Rent Expenses​

Answer 1

Answer:

discount received is it ok

Answer 2

ACCOUNTING LEDGER

DISCOUNT RECEIVED will appear on the credit side of ledger account.

GETTING TO KNOW MORE ABOUT ACCOUNTING LEDGER:

* An accounting ledger is a bookkeeping account or record that stores balance-sheet and income-statement transactions. Cash, accounts receivable, investments, inventories, accounts payable, accrued costs, and client deposits are all examples of accounting ledger journal entries.

* All forms of balance sheet and income statement transactions are recorded in accounting ledgers. Asset ledgers, such as cash and accounts receivable, are included in balance sheet ledgers. Revenue and expense ledgers are examples of income statement ledgers.

* The accounting ledger, often known as the general ledger (GL), is the backbone of any company financial system since it serves as a consolidated repository for all account data rolled up from subledgers or modules.