Puff and Blow are in a partnership and share profits and losses in the ratio of 3 : 1. Pant is admitted to the partnership. The new partnership agreement provided for the following:

A. Land and buildings are revalued at R12 000. The carrying value at present is R8 000.

B. Obsolete inventory to the value of R1 600 must be written off.

C. Goodwill appears in the books of the old partnership at R3 000. On admission of Pant, goodwill is valued at R5 000.

D. Pant must pay R10 000 in cash for his capital contribution.

E. The full R10 000 contributed by Pant must be kept in the business.

F. No goodwill must appear on the statement of financial position of the new partnership.

G. Puff, Blow and Pant will share profits and losses in the ratio of 2 : 1 : 1.

You are required to:

Prepare the journal entries (cash included) of Puff, Blow and Pant to give effect to the agreement in the books.