Calculate the cash balance after the discount.
A.
N2,760
B.
N4,300
C.
N6,200
D.
N2,400
Correct answer is A
cash balance = debit side of the cash column - credit side of cash column. Hence we have;
Discount allowed = 0.02 x 2000 = 40
Debit column = 3000 + 1000 + 2000 + 200 = 6200
6200 - 40 (cash discount) = 6160
credit column = 200 + 3000 + 200 = 3400
6160 - 3400 = 2760