Adams and David were in partnership sharing profits and losses in the ratio 5:3: . The balance sheet for the partnership at 31 March 2015 was as follows:

Fixed Assets/non current Assets (net) $ $

Premises 90 000

Motor vehicles 30 000

Goodwill 10 000

130 000

Current Assets

Inventory/stocks 15 000

Receivables/Debtors 28 000

Bank 24 000

67 000

Current Liabilities

Accounts payable 25 000

42 000

172 000

Capital accounts Adams 100 000

David 72 000

172 000

The premises were sold for $96 000 and David took over the car at an agreed valuation of $ 16 000. The stocks were sold for $12 000, the debtors realized $27 000, and the creditors were paid in full. Expenses of realization amounted to $ 1200.

Required:

Prepare the realization account, the bank account and the partners ‘capital accounts to record the above information.