Gamji Memorial Club carried out an activity which yield a profit of N10 000. This…

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Accounts - Principles of Accounts JAMB 2005

Gamji Memorial Club carried out an activity which yield a profit of N10 000. This amount is to be transferred to the?

  • debit side of its profit and loss account
  • credit side of its profit and loss account
  • debit side of its income and expenditure account
  • credit side of its income and expenditure account checkmark

The correct answer is: D

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