Explanation:

- The partner has a debit balance in the Capital Account of Rs 14,000, which indicates he owes this amount to the firm.

- He is entitled to receive a share of the profit on realization, which is Rs 43,000.

- He has taken over the firm's asset worth Rs 17,000, which will be deducted from what he is entitled to receive.

Calculation:

- Total amount he should receive = Profit on realization (Rs 43,000) - Debit balance (Rs 14,000) - Asset taken over (Rs 17,000)

- Total = Rs 43,000 - Rs 14,000 - Rs 17,000 = Rs 12,000

- Option:1, Rs 31,000 - Incorrect

- Option:2, Rs 29,000 - Incorrect

- Option:3, Rs 12,000 - Correct

- Option:4, Rs 60,000 - Incorrect