Aakash and Baadal entered into partnership on 1st October, 2023 with the capitals of ₹80,00,000 and ₹60,00,000 respectively. They decided to share profits and losses equally. Partners were entitled to interest on capital @ 10% per annum as per the provisions of the partnership deed.

Baadal is given a guarantee that his share of profit, after charging interest on capital will not be less than ₹7,00,000 per annum.

Any deficiency arising on that account shall be met by Aakash. The profit of the firm for the year ended 31st March, 2024 amounted to ₹13,00,000

Prepare Profit and Loss Appropriation Account for the year ended 31st March, 2024.