Use the information to answer this question
Receipts and Payment Account (Extract)
N
Bal b/f 3650 Insurance 900
subscription (99) 7500 Rate 11,700
(2000) 1000 Bal c/d 8,050
Fees 8500
20,650 20,650
The following information were given:

Rates owingInsurance prepaidSubscription in arrears

1/1993,60050700

31/12/9920001000600

Calculate the subscriptions in the Income and expenditure account

A. 8400
B. 7400  
C. 6400
D. 7200

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Correct Answer: B