A, B and C were partners in a firm having capitals of rs 50,000 ; rs 50,000 and rs 1,00,000 respectively. Their Current Account balances were A: rs 10,000; B: rs 5,000 and C: rs 2,000 (Dr.). According to the Partnership Deed the partners were entitled to an interest on Capital @ 10% p.a. C being the working partner was also entitled to a salary of rs 12,000 p.a. The profits were to be  divided as:

(a) The first rs 20,000 in proportion to their capitals.

(b) Next rs 30,000 in the ratio of 5 : 3 : 2.

(c) Remaining profits to be shared equally.

The firm earned net profit of rs 1,72,000 before charging any of the above items.

Prepare Profit and Loss Appropriation Account and pass necessary Journal entry for the appropriation of profits.