A sports club was set up on 1 January. It has a clubhouse and also operates a snack bar for its members. Which items should be entered in the receipts and payments account for the first year ended 31 December? 1. new furniture for use in the clubhouse, paid by credit transfer 2. subscriptions received from club members in advance for the next financial year 3. subscriptions due from club members at the close of the financial year 4. snack bar wages due at the close of the financial year
- A1 and 2
- B1 and 4
- C2 and 3
- D3 and 4