Question

In the financial year 2018-19, cash sales and credit sales of
Amit Kumar was Rs. 6000000 and Rs. 4000000 Respectively.
During the year, he spent Rs. 3600000 in which Rs. 360000
is yet to be paid. Calculate the income of Amit Kumar for the
year 2018-19 on the following basis : [6]
(a) Cash basis (b) Accrual basis

Answer 1

Answer:

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