Mohit, Sohan are Rahul are partners in a firm. Sohan retired from the firm on 1st April, 2023 and his claim including his capital and share of goodwill was ₹ 1,50,000. There was unrecorded furniture estimated at ₹ 7,500, half of which was given to settle unrecorded liability of ₹ 15,000 for ₹ 7,500 and remaining half given to Sohan at 10% less in part satisfaction of his claim. Balance of Sohan’s claim was paid by cheque. Give the Journal entries for the above.

Anurag Pathak Changed status to publish March 3, 2024
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