Question on: WAEC Accounting - 2007
Youngsters Club has a membership of 115 persons. Each member pays an annual subscription of ₦50. During the year ended 31st December 2005, 8 members had not paid their subscriptions. using the information, the subscriptions shown in the Balance sheet as at 31st December 2005 is
A
₦400(asset)
B
₦150(asset)
C
₦150(liability)
D
400(liability)
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Correct Option: A
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