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Refer to the Exhibit.

Refer to the Exhibit.

John Taylor commenced business on 1 March 2006, paying $1,000 cash into a business bank account. During the next month the following transactions took place.

The balance on the bank account at the end of the month is:

A.

$700 debit

B.

$700 credit

C.

$1,200 debit

D.

$1,200 credit

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