Anand, Ridhi, and Shyam were partners in a firm sharing profits and losses in the ratio of 2 : 2 : 1. Their fixed capitals were ₹ 1,00,000, 60,000, and 40,000, respectively

Anand, Ridhi, and Shyam were partners in a firm sharing profits and losses in the ratio of 2 : 2 : 1. Their fixed capitals were ₹ 1,00,000, 60,000, and 40,000, respectively. For the year ended 31st March, 2023, interest on capital was credited to their capital accounts @ 9% p.a. instead of 7% p.a. Pass the necessary adjusting Journal entry.

[Ans.: Dr. Anand’s Current A/c by ₹ 400 and Cr. Ridhi’s Current A/c by ₹ 400.