Use the information below to answer question
Total sales of ticket.......................N300 000
Amount received from the sales..............N260 000
Cash purchase of club house.................N100 000
Credit purchase of equipment ...............N60 000
Electricity bill paid ......................N5 000
Salaries owed ...................N2,000
What is the receipts and payment account balance?
N260,000
N233,000
N155,000
N100,000
Correct answer is C
No explanation has been provided for this answer.