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A provision for doubtful debt to be created at Goodwill of the firm was to be valued at The gaining ratio is 2:3. Lalitha

A provision for doubtful debt to be created at Goodwill of the firm was to be valued at The gaining ratio is 2:3. Lalitha was to be paid off immediately. 10625 75000 Record the necessary journal entries, prepare Revaluation Account, Capital Accounts and Balance Sheet of the reconstituted partnership.

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