Explanation:

In a three column cash book, the discount columns are totalled but not balanced.

Three Column Cash Book:
A three column cash book is a book of original entry where all cash transactions are recorded. It has three main columns, namely, the cash column, the bank column, and the discount column. The cash column is used to record all cash receipts and payments, the bank column is used to record all transactions related to the bank, and the discount column is used to record all discounts allowed and received.

Purpose of Discount Column:
The discount column in the three column cash book is used to record any discounts offered or received during cash transactions. Discounts are commonly given or received for early payment, bulk purchases, or other special circumstances.

Discount Column Totalled:
In the three column cash book, the discount column is totalled at the end of each accounting period. This is done to determine the total amount of discounts allowed or received during that period.

Not Adjusted:
However, the discount column is not adjusted in the three column cash book. This means that the total amount in the discount column is not used to adjust or reconcile any other accounts. It is simply a summary of the discounts allowed or received during the accounting period.

Importance of Balancing:
Balancing is the process of ensuring that the total debits equal the total credits in an account or a set of accounts. Balancing is necessary to ensure the accuracy of financial records and to identify any errors or discrepancies.

Not Balanced:
In the case of the discount column in the three column cash book, it is not balanced. This means that the total amount in the discount column is not compared or reconciled with any other accounts. It is simply a total of the discounts allowed or received during the accounting period.

Conclusion:
In summary, in a three column cash book, the discount columns are totalled but not balanced. They are used to record the discounts allowed or received during cash transactions and the total amount in the discount column is not adjusted or reconciled with any other accounts.