- 1 Marks
Question
In which of the following ledgers can data relating to discount be found?
A. Nominal ledger
B. Cash book
C. Sales ledger
D. Private ledger
E. Petty cash book
Answer
A. Nominal ledger
Explanation:
Discounts are typically recorded in the nominal ledger, which contains income and expense accounts, including accounts for discounts allowed and discounts received.
- Tags: Accounting Records, Discounts, Ledgers
- Level: Level 1
- Uploader: Theophilus