M/s. Kumar & Co., dealing in computer goods, sold 20 computers, costing ₹ 10,000 each at ₹ 25,000 each. Out of this ₹ 1,50,000 were received in cash and balance through post dated cheques. State the amount of revenue & income.
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Explanation:
Revenue= 25000×20
= 500000
Income= 500000-200000
= 300000
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