P, Q and R are partners sharing profits in the ratio of 2 : 1 : 1. Their capitals as on 1st April, 2023 were ₹ 50,000, ₹ 30,000 and ₹ 20,000 respectively

P, Q and R are partners sharing profits in the ratio of 2 : 1 : 1. Their capitals as on 1st April, 2023 were ₹ 50,000, ₹ 30,000 and ₹ 20,000 respectively. At the end of the year ending 31st March, 2024 it was found out that interest on capitals @ 12% p.a., salaries to P, ₹ 500 per month and R ₹ 1,000 per month were not adjusted from the profits. Show adjusting entry to be made in the next year for above adjustments.

[Ans. Capital A/cs of P and Q will be debited by ₹ 3,000 and ₹ 3,900 respectively; and Capital A/c of R will be credited by ₹ 6,900.]