Shikhar and Rohit are partners sharing profits equally. Shikhar's fixed capital was Rs 1,00,000 and Rohit's fixed capital wan Rs 80,000. Profit for the year ended 31st March, 2021 was distributed. It was detected that interest on capital @ 10% was not allowed. Journal entry to adjust the interest on capital will be:
(a) Dr. Shikhar's Current A/c and Cr. Rohit's Curront A/c by Rs 1,000.
(b) Dr. Shikhar's Capital A/c and Cr. Rohit's Capital A/c by Rs 1,000.
(c) Dr. Rohit's Current A/c and Cr. Shikhar's Current A/c by Rs 1,000.
(d) Dr. Rohit's Capital A/c and Cr. Sikhar's Capital A/c by Rs 1,000.
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