Opening balance of Diks company was N12,202, closing balance N15,300, total cash received during the period N40,000. What was the amount of cash paid during the same period?
N36,902
N27,502
N12,498
N43,098
Correct answer is A
Opening balance = 12,202 + cash recieved = 40,000 = 52,202
less closing balance
= 52,202 - 15,300 = 36902 (Amount spent during the period)