Book Value of assets otherthancashandbank transferred to Realisation Account is 1 00 000 50 of the a...........

Book Value of assets otherthancashandbank transferred to Realisation Account is 1,00,000. 50% of the assets are taken over by a partner Atul, at a discount of 20%; 40% of the remaining assets are sold at a profit of 30% on cost; 5% of the balance being obsolete, realised nothing and remaining assets are handed over to a Creditor, in full settlement of his claim.

You are required to record the Journal entries for realisation of assets.