X and Y are partners sharing profits in the ratio of 3:2 with capitals of ₹80000 and ₹60000 respectively . Interest on capital is agreed @5%p.a. Y is to be allowed an annual salary of ₹6000 which has not been withdraw. Profit for the year ended 31st march,2018 before interest on capital but after charging Y's salary amounted to ₹24000. A provision of 5% of the profit is to be made in respect of commission to the manager. Prepare an account showing the allocation of profits.
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