A and B dissolve their partnership Their position as at 31st March 2019 was Particulars nb...........

A and B dissolve their partnership. Their position as at 31st March, 2019 was:

The balance of A's Loan Account to the firm stood at 10,000. The realisation expenses amounted to 350. Stock realised 20,000 and Debtors 25,000. B took a machine at the agreed valuation of 7,500. Other fixed assets realised 20,000.

You are required to close the books of the firm.