The accounting equation at the start of the month was Assets 14,000 less liabilities 6,250. During the month the following transactions took place: the business purchased a fixed asset for 3,000, paying by cheque, a profit of 3,500 was made and creditors of 2,750 were paid by cheque. Calculate the capital at the start of the month? A 7,750 B 11,500 C 5,500 D 8,250
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