The partners of a firm Distributed the profit Of the year ended on 31 March ,120000 in the ratio of 2:2:1 before providing for following adjustments: a) A and B were entitled to salary of 1500 per quarter
b) C was entitled for the commission of 6000
c) A and C are guaranteed a profit of 48000 p a to B d) profits were to be shared in ratio of 4:3:2 Pass an adjustment entry for the above
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