Use the following information to answer the given question
| J. Chike
N |
B. Balla
N |
|
| Current Accounts balance(1/4/98) | 4,000 | 6,000 |
| Current Accounts balance (1/4/99) | 7,000 | ? |
| Drawings | 1,500 | 1,500 |
| Share of net profit | ? | 2,500 |
A. N11,000
B. N7,000
C. N5,500
D. N4,500
Correct Answer:
Option B – N7,000
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