From the given particulars ascertain the amount to be credited to income and expenditure account for the year ending 31.12.08.
Subscription received during the year – Rs. 18,000
Subscription outstanding oh 31.12.08 – Rs. 1,000
Subscription received in advance on 31.12.08 – Rs. 1,200
Subscription received in advance on 31.12.07 – Rs. 700
Subscription outstanding on 31.12.07 – Rs. 100 of which Rs. 900 were received in 2008.