Calculate the subscriptions in the Income and expenditure account

Use the information to answer this question
Receipts and Payment Account (Extract)
N
Bal b/f 3650 Insurance 900
subscription (99) 7500 Rate 11,700
(2000) 1000 Bal c/d 8,050
Fees 8500

20,650 20,650

The following information were given:

Rates owing
Insurance prepaid
Subscription in arrears
1/199
3,600
50
700
31/12/99
2000
1000
600

Calculate the subscriptions in the Income and expenditure account

A 8400

B 7400

C 6400

D 7200

Answer is B

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