ASR Motor LLC is running a partnership business last 20 years. ASR good reputation in sultanate of Oman. ASR dealing auto parts, mobile oil and auto repair and maintenance. Last few years overall economic growth and oil prices continue decreasing and due to that reason firm continue running losses. A long discussion the partners decided to dissolve the firm. The partners are Akbar, Iqbal, Samar, and Rahil sharing profit and losses in the ratio of 3:2:2:3. The closing balances of assets, liabilities and capitals as on 31st December,2019 was given below.

Name of Accounts	OMR	Name of Accounts	OMR
Cash at Bank	197,325	Profit & Loss A/c	312,000
Accounts Receivable	702,280	Abdullah, Capital	2,815,000
Inventory	373,520	Ahmed, Capital	2,815,000
Furniture	1,053,590	Samar, Capital	1,920,000
Plant and Machinery	1,769,060	Rahil , Capital	2,500,000
Notes Payable	321,600	General Reserve A/c	758,000
Sundry Creditors	183,125	Building	1,077,000
Land	4,000,000	Workshop Equipment	1,050,200
Outstanding Salary	208,250

They decided to dissolve the firms. The following term amounts were realized: Plant and Machinery are realized 15% less of total cost, Accounts Receivable realized OMR650,000,Inventory were sold OMR325,000.Sundry Creditors paid at 5% discounts, Land to be appreciated by 15%,Furniture are realized OMR900,000,Rahil are agreeing to take Building and Workshop equipment OMR1,000,000 and OMR 850,000, respectively and Note payable are paid 5% less of the value and Outstanding salary were paid full amount. You are required a. To pass necessary Journal entries. (2 Marks) b. To prepare Realization Account, Bank Accounts and Partners Capital Account. (3 Marks)