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Calculate the balance carried forward as at december

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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:

  1. 3 March (in respect of the quarter ended 30 June) K1,200
  2. 14 June (in respect of the quarter ended 30 September) K1,200
  3. 25 September (in respect of the quarter K1,400 ended 31 December)
  4. 13 December (in respect of the first quarter

Required:

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

Reference no: EM132522670

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