If the total discount allowed in a cash book was N230 and the total discount received was N255, which of the following is true concerning the two discounts?
They must be balanced in the cash book and the difference taken to the debtors ledger
They must be balanced in the cash book and the difference taken to the trial balance
They should not be balanced in the cash book before being taking to the trial balance
They should not appear in the trial balance as they were already either received or paid out
Correct answer is D
No explanation has been provided for this answer.