The subscriptions received represent 80% of total payments and the opening balance is 30% of…

Accounts - Principles of Accounts JAMB 2006

The subscriptions received represent 80% of total payments and the opening balance is 30% of gate-fee collections.

What is the closing cash balance?

  • N35 000
  • N211 000
  • N5 000 checkmark
  • N10 000

The correct answer is: C

Explanation

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