Use the following information to answer the given question
(begin{array}{c|c} & N \ hline text{Debtors (1/1/98)} & 2,000 \ text{Debtors (31/12/98)} & 1,250 \ text{Cash received from debtors} & 6,000 \ text{Bad debt written off} & 750 \ text{Discount allowed} & 500 \ text{Discount received} & 125end{array})
Assuming a gross profit of N3,000, what was the net profit?
(begin{array}{c|c} & N \ hline text{Debtors (1/1/98)} & 2,000 \ text{Debtors (31/12/98)} & 1,250 \ text{Cash received from debtors} & 6,000 \ text{Bad debt written off} & 750 \ text{Discount allowed} & 500 \ text{Discount received} & 125end{array})
Assuming a gross profit of N3,000, what was the net profit?
-
A.
N3,375 -
B.
N2,625 -
C.
N2,000 -
D.
N1,875