1. Mukut, Kirit and Rahul are partners. They have no deed of partnership, but agree, after the division
of profits, that the capital of each be credited with interest at 5% per annum for the year which has
just elapsed.
The capitals are fixed at : 7,500 for Mukut, 75,000 for Kirit and * 4,500 for Rahul.
Show how the interest on capital may be accounted for by entries in the partners' current accounts
only.
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