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Use the following information to answer the given question. John and Johnson are in ...

Use the following information to answer the given question.
John and Johnson are in partnership, sharing profit and losses in the ratio 3 : 2. Other information are as follows:
\(\begin{array}{c|c} \text{Capital} & \text{ - John} & N20,000 \\ & \text{ - Johnson} & N10,000 \\ Drawings & \text{ - John} & 2,000 \\ & \text{ - Johnson} & 3,000 \\ \text{Interest on capital} & & \text{5%} \\ \text{Interest on drawings} & & \text{10%} \\ Profit & & N6,000\end{array}\)
The balance on Johnson's current account is
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  • A N3,300 Cr
  • B N2,200 Cr
  • C N1,200 Cr
  • D N800 Dr
  • E N500Dr
Correct Answer: Option D
Explanation:

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