Question

is discount allowed showed in cash book​

Answer 1

Answer:

Cash discounts accompany cash receipts from debtors and payment to creditors. Therefore, it is convenient to record discount allowed or discount received along with cash receipt or cash payment. ... The discount column in the cash book is only a memorandum column and does not stand for Discount Account

Answer 2

Answer:

does not stand for Discount Account.

Explanation:

Cash discounts accompany cash receipts from debtors and payment to creditors. Therefore, it is convenient to record discount allowed or discount received along with cash receipt or cash payment. ... The discount column in the cash book is only a memorandum column and does not stand for Discount Account.