profit earned by partnership firm for the year ended 31st March 2020 distributed equally between partners Pankaj and Anu
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Profits earned by a partnership firm for the year ended 31st March, 2017 were distributed equal between the partners Pankaj and Anu without allowing interest on capital. Interest due on capital was - Pankaj: 3,000 and Anu: 1,000. Pass necessary adjustment entry.
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