Question

Cash discount received is recorded in the books of
account as follows:
A. Cash Discount is debited to Discount Received Account
B. Cash Discount is credited to Discount Allowed Account
C. Cash Discount is credited to Discount Received Account
D. Cash Discount is reduced from Invoice Price​

Answer 1

Answer:

cash a/c dr

to discount received a/c

Answer 2

Answer:

C. CASH DISCOUNT IS CREDIT TO DISCOUNT RECEIVED IN ACCOUNT