How will the following items be presented in the 'income and expenditure A/C' of a club for the year ending 31st March, 2019 and the balance sheet as on that date?
PARTICULARS:
Tournament fund on 1st april, 2018- 3 Lakhs
10% tournament fund investments on 1st April, 2018- 3 lakhs
Interest received on Tournament fund investments- 30,000
Sale of tournament tickets- 75,000
Tournament Prizes awarded- 60,000
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Answer:
sale of tournament tickets -75000
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