A, B, C and D are partners sharing profits in the ratio of 4:3:2:2.c retires and the remaining pares decided to share future profits in 5:3:2. On the date C's retirement there was a debit balance of 30,800rupees in the profit and loss account Show the necessary journal entry for the treatment of profit and loss account balance.
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it doesn't matter the partner is retires or not any of the profit/loss has to be distributed between all because he is/was also a part of it
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