Raman, Manan and Naman were partners sharing profit in the ratio of 2 : 1 : 1. Raman withdrew 3,000 every month and Manan withdrew 4,000 every month. Interest on drawings @ 6% p.a. was charged whereas the partnership deed was silent about interest on drawings.

 

Showing your working clearly, pass the necessary adjustment entry to rectify the error. 

Marks-3, CBSE:2022-23/Zone-3/Set-1/Q-19*

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