WAEC Financial Accounting 2007 Question 24

Opening balance N1,894 Dr
Cheques received from customers N7,284
Cash received from customers N1,236
Returns from customers N296
Closing balance N3,368 Dr
The closing balance of N3,368 Dr is classified in the balance sheet as a

1. A.fixed asset
2. B.current asset.
3. C.current liability
4. D.capital.