Which of the following conditions best represents the net effect of discount all...
Question
Which of the following conditions best represents the net effect of discount allowed on credit sales on the accounts of the business?
Options
A)
decrease in the closing balance of sales ledger control accout
B)
increase in net profit
C)
increase in the value of sales
D)
decrease in the value of purchases in the trading account
The correct answer is A.
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