A club received rent N10,000 and donation N30,000. It paid N6,000 for entertainment and is…

Accounts - Principles of Accounts JAMB 2001

A club received rent N10,000 and donation N30,000. It paid N6,000 for entertainment and is still owing N16,000.
The balance of the payments account is?

  • N24,000
  • N22,000
  • N14,000
  • 8,000
  • NO OPTION INDICATED checkmark

The correct answer is: E

Explanation

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