20. Suresh, Paresh and Dinesh are partners sharing the profit and loss in the ratio 9:7:4 respectively. On 1-1-2003 they agreed to dissolve the firm on that date. The balance-sheet of firm was as under : Liabilities Assets Capital : Suresh Paresh Dinesh General Reserve Creditors 1,81,200 1,31,600 67,200 3,80,000 64,000 30,000 40,000 34,000 5,48,000 Bank Overdraft Paresh's Loan On maturity date by Bank. Other Assets First Second Third Rs. Cash Building Furniture 15-1-2003 2-2-2003 15-2-2003 Stock Debtors Bills receivable Rs. 16,000 2,38,000 70,000 90,000 1,24,000 10,000 5,48,000 15-2-2003 of Bills receivable, they were cleared. realised gradually as under in three instalments : Rs. 40,000 1,12,000 2,10,000