ABC Welfare Club has provided the following information on 31st March 2021.
Subscription received by the firm during the year ₹6,20,000. Details of which is as follows:
For the year 31st March 2020 30,000
For the year 31st March 2021 90%
For the year 31st March 2022 50,000
Amount of subscription in arrears as at 31st March 2020 was ₹45,000 out of which 20% was not receivable and to be written off.
You are required to answer the questions given below.

What amount of Subscription in advance is to be shown on the liabilities side of the Balance Sheet on 31st March 2021?

₹50,000

For the year 31st March 2022 50,000 (given in the question).