Which of the following statements is not true?
A. Cash discount is recorded in the books of accounts
B. Assets purchased on credit are recorded in journal proper
C. Trade discount is recorded in the books of accounts
D. 3 grace days are added while determining the due date of the bill
Answer:C
Which of the following statements is not true?
A. Cash discount is recorded in the books of accounts B. Assets purchased on credit are recorded in journal proper C. Trade discount is recorded in the books of accounts D. 3 grace days are added while determining the due date of the bill