A, B and C were carrying on business in partnership, sharing profits and losses in the ratio of 2 : 1 : 1. On December 31, 2017 B decided to retire from the firm and the following terms were agreed upon :

(a) A typewriter purchased on January 1, 2016 for 1,200 was charged to the Office Expenses Account in 2017 and has to be brought into account after allowing 15% p.a. depreciation on the reducing balance basis.

(b) Furniture and fittings are to be written-down by ₹603 and stock by ₹5,000.

(c) The provision for bad and doubtful debts standing in the books at ₹4,000 are to be reduced by 25%.

(d) A liability in respect of workmen’s compensation for ₹2,100 not acknowledged by the partnership as a valid claim, is however, to be provided for.

(e) Goodwill of the firm is valued at ₹24,000.

(f) The capital accounts of the partners on December 31, 2017 stood at A ---- ₹20,001, B ---- ₹15,001 and C ----₹10,001.

A and C agree that the Goodwill is to be adjusted through Capital Accounts of the partners and the amount payable to B shall be brought in by them in their new profit-sharing ratio. You are required to pass Journal Entries to record the above transactions.