WAEC Financial Accounting 2010 Question 8

Use the following information to answer questions 6 to 8.
1/1/08 Capital introduced by cash: ₦50,000
2/1/08 Bought goods for retail by cash: ₦10,000
3/1/08 Bought fixtures by cash: ₦5,000
4/1/08 Sold goods to Lagbaja on credit: ₦3,000
5/1/08 Bought goods on credit from Tamedu: ₦8,000

Balance in the Capital Account at 5/1/08 is

1. A.₦60,000
2. B.₦50,000
3. C.₦35,000
4. D.₦5,000