Which statements are correct?
1 A book of prime entry is also part of the double entry system.
2 All sales made by the business are included in the sales ledger.
3 Ledger accounts for income and liabilities have credit balances.
4 Trade discounts appear in the income statement.
1 )
1 and 2
1 and 3 only
3 )
1, 3 and 4
4 )
3 and 4 only
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