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JAMB UTME - Principles of Accounts - 2023

Ibeere 1 Ìròyìn

Dairo and Segun are in partnership sharing profits and losses in the ratio 2:3 respectively. The information below relates to their business for the year ended 31st December, 2018.
 

        Drawings:

             ₦

     Dairo           12000
     Segun           18000
     Capital  
     Dairo           120000
     Segun           60000

- Interest on drawings 10%

- Interest on capital 5%

- Profit for the year ₦36,000

- Salary: Segun ₦10,000

The interest on Dairo's drawings is