Use the information below to answer questions 28 and 29.

On January 1,2000, a club's assets and liabilities were as follows:

Club house...................N8,000

Subscription.................N300

Cash.........................N1,000

Wages owed...................N100

The club has 50 members and annual subscription is N100 per member.

Subscription received is N4,000 and this includes 1999 arrears of N200.

The accumulated fund is?

• A N9,400
• B N9,300
• C N9,200
• D N9,100