Use the information below to answer questions.
Entrance fees…………………….N1200
Subscriptions(including N850 arrears).N4310
Donations received………………..N1500
Proceeds from sales……………….N2300
Total payments……………………N8200
Depreciation……………………..N2100
Closing cash balance………………N1110
The club deposited 200% of the closing cash balance in he bank during the period.
Determine the opening cash balance of the
A N3070
B N2220
C N5710
D N4320
Answer is B
