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Solve the balance carried forward as at december

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Reference no: EM132523129

Alex Mukanta pays the rental expense on his market stall in advance. He starts business on 1 January 2019 and on that date pays K1,200 in respect of the first quarter's rent.

During his first year of trade he also pays the following amounts:

  • 3 March (in respect of the quarter ended 30 June) K1,200
  • 14 June (in respect of the quarter ended 30 September) K1,200
  • 25 September (in respect of the quarter K1,400 ended 31 December)
  • 13 December(in respect of the first quarter of 2020)k1400

Required:

Question 1: Calculate the balance carried forward as at 31 December 2019.

Reference no: EM132523129

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