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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 John's current account is
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  • A N4,000 Dr
  • B N3,800 Cr
  • C N3,300Cr
  • D N2,000 Cr
  • E N18,000 Cr
Correct Answer: Option E
Explanation:

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