Gamji Memorial Club carried out an activity which yield a profit of N10 000. This amount is to be transferred to the?

  • A debit side of its profit and loss account
  • B credit side of its profit and loss account
  • C debit side of its income and expenditure account
  • D credit side of its income and expenditure account

The correct answer is D. credit side of its income and expenditure account

No explanation given
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