A trader’s draft income statement indicated a profit for the year of $2400. Later, these errors were identified: (1) No adjustment was entered for accrued income of $8000. (2) Carriage inwards costing $250 had been entered as carriage outwards. (3) An increase in provision for doubtful debts of $120 had been added to the gross profit for the year. What is the corrected profit for the year?
- A$3260
- B$3260
- C$3280
- D$3240