P, Q and R were partners with fixed capital of 40,000, 32,000 and 24,000. After distributing the profit of 48,000 for the year ended 31st March 2022 in their agreed ratio of 3 : 1 : 1, it was observed that: 


(1) Interest on capital was provided at 10% p.a. instead of 8% p.a. 

(2) Salary of 12,000 was credited to P instead of Q. 


You are required to pass a single journal entry in the beginning of the next year to rectify the above omissions. 

Marks-3, CBSE:2023-24/Sample/Q-18*

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