Prepare profit and loss account for the year ending on 31.3.2004
Rs. Rs.
Gross profit 25,000 Travelling expenses 500
Salaries 5,600 Stationery 75
Insurance 200 Rent 650
Discount allowed 400 Interest on loan 225
Discount received 300 Repairs 125
Commission earned 100 Office expenses 55
Advertisement 450 General expenses 875
Taxes 150 Postage 175
Printing charge 375
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