b) Sakib, Tamim and Kamal undertake to erect a five-storied mansion for Dhaka City Corporation. The contract price is agreed at Tk.26,00,000, to be paid in cash Tk.23,00,000 by four equal installments and the balance amount in 8% notes payable of the corporation. They agree to share equally the profit or loss. They open a joint banking account with cash contributed as stated below: Sakib Tk.4,00,000, Tamim - Tk.3,75,000 and Kamal Tk.2,50,000. Sakib arranges the preparation of building plans, etc. and pays Tk.50,000 as architect's fees. Tamim brings a concrete mixture and other implements valued Tk.80,000 and Kamal brings a motor lorry valued Tk. 75,000.They pay in cash for the followings: Materials Tk. 1226800, Wages Tk.732000, sundry expenses Tk 20000, Plant Tk 60000. On completion of the venture concrete mixture is sold for Tk.50,000; plant and other implements are sold as scrap for Tk. 10,000. Kamal takes back motor lorry at Tk.40,000. Subsequently Sakib takes over the notes payables issued by the corporation at a valuation of Tk 2,50,000. Instruction: Prepare necessary ledger accounts for the joint venture. (8)