Question

Double Entry Book Keeping
Ha
5. During the financial year 2016-17, Mohan had cash sales of * 90,000 and credit sales of
760,000. His expenses for the year were $ 70,000 out of which * 30,000 is still to be paid.
Find out Mohan's income for 2016-17 following the Cash Basis of Accounting.​

Answer 1

Answer:

mohan income ==,90000-40000==50000