Use the following information to answer this question.
Club building 400,000
Subscription prepaid 3,000
Sport kits 150,000
Bar creditors 85,000
Subscription owing 32,000
What is the club’s total liabilities?
N11,700
N26,700
N88,000
N85,000
Correct answer is C
Creditors plus subscription in advance 85000 + 3000 = 88,000