65. A, B and C were partners. Their fixed capitals were ₹60,000,  ₹40,000 and ₹20,000 respectively. Their profit sharing ratio was 2:2:1. According to the Partnership Deed, they were entitled to interest on capital @5% p.a.

In addition, B was also entitled to draw a salary of ₹1,500 per month. C was entitled to a commission of 5% on the profits after charging the interest on capital, but before charging the salary payable to B. The net profits for the year, ₹ 80,000 were distributed in the ratio of their capitals without providing for any of the above adjustments. Showing your workings clearly pass the necessary adjustment entry. (CBSE 2019)