Amounts for discount allowed are recorded in the following special journal(s):Group of answer choicescash receipts journal onlycash receipts journal and sales journalgeneral journal onlysales journal only

Which of the following transactions would LEAST likely be recorded in the special journals? Group of answer choicesCash received from customers for returned goods.Sales made on account with terms 2/10, n/30.Cash payments for purchases previously purchased on account.Purchase of equipment through issuance of a promissory note.

The narration for the following journal entry could be,Received discount A/C - Dr 3000Discount allowed A/C - Dr 3000Suspense A/C 60001. Rectifying the error of recording an allowed discount of Rs. 3000 to the received discount account2. Rectifying the error of debiting an allowed discount of Rs. 3000 to the received discount3. Rectifying the error of crediting a received discount of Rs. 3000 to discount allowed a/c4. Rectifying the error of missing an allowed discount of Rs. 30005. Rectifying the error of not extracting the allowed and received discounts to the trial balance

A customer receives a discount for prompt payment.  The customer had bought goods for $782 including GST.  The prompt payment discount is $23 including GST.  What is the correct journal entry to record this transaction?Question 8Answera.DR Bank $759; DR Sales Revenue $20; DR GST Clearing $3; and CR Accounts Receivable $782b.DR Bank $759; DR Sales Revenue $23; CR GST Clearing $3; and CR Accounts Receivable $779c.DR Bank $782; CR Discount Allowed $20; CR GST Clearing $3; and CR Accounts Receivable $759d.DR Bank $759; DR Discount Allowed $20; DR GST Clearing $3; and CR Accounts Receivable $782

Discount received is recorded on which of the following side of a cash book? A. Receipts B. Payments C. Incomes D. Expenditures

The journal entry to record interest that has been earned but not yet received includes a debit to Interest Receivable and a credit to:Multiple ChoiceCashInterest ExpenseAccounts PayableInterest Income