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The Receipt and Payment Account of a club shows the following...

This question belongs to Commerce Accounting
Accounting
?

The Receipt and Payment Account of a club shows the following details of subscriptions:
Arrears Rs. 500, current Rs. 10,500 advance Rs. 800.
There are 1200 members each paying an annual subscription of Rs. 10. The amount of subscription to be credited to Income and Expenditure Account will be:

Answer & Solution
Correct Answer: Option B
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