Use the information below to answer questionRakiya and Joy are in partnership and agreed that 5% interest per annul is to be charged on drawings. The drawin...

Question 1 Report

Use the information below to answer questionRakiya and Joy are in partnership and agreed that 5% interest per annul is to be charged on drawings. The drawing made by both partners in one year were: Rakiya, ₦200 on March 31 and ₦300 on September 30. Joy, ₦100 on April 1 and ₦240 on July 1.Assuming that Rakiya was not credited with any income during the period, what is her closing current account balance?

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