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Prepare Profit & Loss Account for the year ended 31st March, 2023 from the following information:

Gross Profit

Rent

Salary

Commission Paid

Interest on Loan

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Interest Received

12,00,000

50,000

3,50,000

1,90,000

50,000

80,000

80,000

Discount Received

Printing and Stationery

Legal Charges

Bad Debts

Loss by Fire

Depreciation

Bad Debts Recovered

60,000

40,000

1,00,000

20,000

60,000

40,000

10,000

Anurag Pathak Changed status to publish October 26, 2023