Question

there are 250 members in the srikrishna club where annual subscription is rs. 500. during 2016-17, subscriptions received rs. 97500 and subscribtion receivable is rs. 47500. what amt of subscribtion received during 2016-17​

Answer 1

Answer:

if you are to pass entry in receipt and payment account then it will be 97500 but if you are going to pass entry in income and expenditure then it will be 125000