263,600, and B 214,600. Total of Bank A/ Q. 21. A and B were partners in a firm with capitals of 24,00,000 and 22,00,000. The firm was dissolved on 28-02-2017. Pass necessary journal entries for the following transactions (1) Computer worth 10,000 was taken over by A for $4,000 (ii) Creditors amounting to 20,000 were taken over by B at 718,000 (iii) Creditors amounting to 5,000 were paid at 24,000 (iv) Bills Payable *25,000 were paid at a discount of 5% Profit on realization was *2,500. (v) [Ans. (1) Debit A's Capital A/c and Credit Realization A/c by ₹4,000. (ii) Debit Realization A/c and Credit B's Capital A/c by 18,000. (ii) Debit Realization A/c and Credit Bank A/c by 74,000. (iv) Debit Realization A/c and Credit Bank A/c by *23,750 (v) Debit Realization A/c by 2,500 and Credit A's Capital A/c by 1,250 and B's Capital A/c by 1,250]