P, Q and R were partners in a firm sharing profits and losses in the ratio of 5:3:2. The partnership deed provides for charging interest on drawings @ 10% p.a. The drawings of P, Q and R during the year ending 31st March, 2020 amounted to 20,000, 30,000 and 50,000 respectively. After the final accounts have been prepared, was discovered that interest on drawings had not been charged.

Pass the necessary adjustment entry to rectify the omission of interest on drawings. Also show your working notes clearly.

Marks-4, CBSE:2020-21/Compartment/Q-15*

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