Question

Account Not for profit
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Answer 1

Answer:

the profits are generated through ad reveneues

Answer 2

Answer:

Explanation:

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Working notes

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1.Received during the year = 5,000

(-) Advance for the current year = (1,000)

(+) Due for the current year = 500

Amt to be credited in income and Expenditure account is 4,500

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