Accounting JAMB

What is the amount of subscription to be shown as liability in the balance sheet as at December 2009?

Social Club Subscription (Extract)

31/12/2009 Subscription accrued #18,900
Subscription received in advance #16,400
Subscription received during
the year 2009 #38,570

A. #14,200
B. #16,400
C. #18,900
D. #20,500

Correct Answer:

Option C – #18,900

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