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Ashu and Harish are partners sharing profit and losses as 3 : 2 . They decided to dissolve the firm on 31st March, 2019. Their Balance Sheet on the above date was:
Cash in Hand
Ashu is to take over the building at 95,000 and Machinery and Furniture is taken over by Harish at value of 80,000. Ashu agreed to pay Creditor and Harish agreed to meet Bank overdraft. Stock and Investments are taken by both partner in profit-sharing ratio. Debtors realised for 46,000, expenses of realisation amounted to 3,000. Prepare necessary Ledger Accounts.
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