A cultural club discloses that subscriptions received during a particular accounting period as per receipts and payments account amount to Rs. 57,360. Subscription outstanding (opening and closing) was Rs. 4,800 and Rs. 6,000 respectively. Subscription received in advance (opening balance and closing balance) amounted to Rs. 3,600 and Rs. 2,160 respectively. The amount to be posted to income and expenditure account would be
A. Rs. 57,360
B. Rs. 54,000
C. Rs. 60,000
D. Rs. 63,360
Answer: Option C
This Question Belongs to Commerce >> Accounting
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