22. Simran and Reema are partners sharing profits in the ratio of 3:2. Their capitals as on 1st April, 2024 were ₹2,00,000 each whereas Current Accounts had balances of ₹50,000 and  ₹25,000 respectively. Interest on capital is to be allowed 5% p.a. Net profit of the firm for the year ended 31st March, 2025 was ₹3,00,000.

Pass the Journal entries for allowing interest on capital and distribution of profit. Also prepare Profit & Loss Appropriation Account for the year.