X and Y are in partnership sharing profit and losses equally.
Y’s opening current account balance was $1350 debit.
The residual profit for the year was $23 500.
Y was entitled to the following.
Y’s drawings during the year were $25 000.
What is the closing balance of Y’s current account at the year end?
$1100 credit
2 )
$1100 debit
3 )
$3800 credit
4 )
$3800 debit
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