5. A, B and C are in partnership sharing Profits and Losses in the ratio of 5:3:2. The Balance Sheet of the firm on 31.12.2015 was as follows: Balance Sheet Liabilities Rs. Assets Rs. Capital A/cs: Sundry Fixed Assets 80,000 A 50,000 Inventories 50,000 B 40,000 Trade Receivables 30,000 C 30,000 Joint Life Policy 20,000 Bank Loan 40,000 Bank 10,000 Trade Payables 30,000 1,90,000 1,90,000 On 1.1.2016, A wants to retire, B and C agreed to continue at 2:1. Joint Life Policy was taken on 1.1.2010 for Rs. 1,00,000 and its surrender value as on 31.12.2015 was Rs. 25,000. For the purpose of A's retirement goodwill was raised for Rs. 1,00,000. Sundry Fixed Assets was revalued for Rs. 1,10,000. But B and C did not prefer to show such increase in assets in the Balance Sheet. Also they agreed to bring necessary cash to discharge 50% of A's claim, to make the bank balance Rs. 25,000 and to make their capital proportionate. Required: Prepare necessary journal entries.