Rs 20,000 received as the annual membership subscription. Out of this, Rs 4,000 is pertaining to the previous accounting period whereas Rs 2,000 is receivable at the end of the current accounting period. Calculate the amount of subscription that will be shown in the income and expenditure account for this accounting.
Rs 18,000
Income for the year = 20,000 - 4,000 + 2,000 = Rs 18,000