Accounting JAMB

Find the bank balance?

Given:

…………….Cash Book……………………

Capital……….N6 500……..purchases…..N12 250
Sales…………N30 000……..Rent……….N9 100
…………………………..Motor vehicle.N2 400

A. N71 250 credit
B. N71 250 debit
C. N95 000 credit
D. N95 000 debit

Correct Answer:

Option A – N71 250 credit

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