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A discount of $2000 was given to a supplier on his prompt repayment of debt but the cashier entered the gross amount in cash book. What should be the adjustment in cash to work out the correct balance of cash book?
Accountingmedium
A$2000 will be debited in cash book
$2000 will be credited in cash book
C$4000 will be debited in cash book
D$4000 will be credited in the cash book
Correct Answer: B. $2000 will be credited in cash book
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