Model: Income recognition Following are the information provided by ABZ Ltd. regarding the interest on advance along with the measure of assets.

Types of (Classification of) Assets

Interest Earned (Rs. in Lakhs)

Interest Received (Rs. in Lakhs)

(A) Performing Assets:

Term Loans

250

150

Cash Credits & Overdrafts

900

550

Bills Purchased & Discounted

400

260

(B) Non-performing Assets:

Terms Loans

150

40

Cash Credits & Overdrafts

560

55

Bills Purchased & Discounted

200

20

You are required to calculate the income to be recognized for the year ending on 31 March 2011.