Subscription received during the year is Rs. 20,000; the amount received in advance for the next year is Rs. 1,200; amount outstanding for the current year is Rs. 1,600. Select the amount of subscription to be credited to the Income & Expenditure Account is:

Rs. 20,400

Subscription received during the year = 20000
Add: outstanding subscription for the current year = 1600
Less: Advance subscription for the next year = 1200
Subscription credited to income and expenditure account = (20000 + 1600 -1200)
                                                                                           = 20400