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How to calculate this In Receipt and payment account By telephone charges 1500
Answers (4)
Thread Starter
Sejal ShivaniFull question
300 is quarter charge so per year should be 1200 but 300 is closing outstanding so current year paid should be 900 but 1500 paid during the year so 600 is opening outstanding Payment = 1500 Less opening outstanding - 600 Add - closing outstanding +300 Charge to P&L 1200