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Land and building 20,000
Stock 5,000
Cash in hand 1,000
Profit and loss b/f 14,000
Rent owing 400
Creditors 11,000
Furniture and fittings 7,500
Motor vehicle 12,000
Debtors 13,750
Bank overdraft 8,750

A. N57,300
B. N47,500
C. N40,000
D. N37,500

Correct Answer: Option C

C. N40,000

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