Use the information below to answer this question.
Ojo, Sam and Ade are in partnership sharing profit in the ratio 4 : 3 : 1 respectively.
Extract from their books for the year ended is Interest on drawings and capital is allowed 5% respectively and profit for the year amounted to ₦4,950
A. 2475
B. 1322.5
C. 4950
D. 6000
Correct Answer: Option B
B. 1322.5
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