During the financial year 2009-10,Mohan had cash sales of Rs 90,000 and credit sales of Rs 60,000. His expenses for the year were Rs 70,000 out of which Rs 30,000 is still to be paid. Find out Mohan's income for 2009-10 following the cash basis of accounting

Dear Student,
Mohan's income as per cash basis of accounting = 90,000 (Cash Sales) - 40,000 (Expenses incurred) = Rs 50,000
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