Kapil and Amarnath of Nagpur entered into a joint venture to trade in silk goods in the ratio 21 On June 1, 2014, Kapil bought goods worth 7,200 and handed over half of the goods to Amarnath On July 1, 2014 Kapil bought another lot of goods costing 2,400 and paid 180 as expenses On September 1, Amarnath purchased goods for 4,500 and on the same day he sent to Kapil a part of these goods costing 1,800 and paid 240 towards expenses On the same day Kapil remitted 1,800 to Amarnath The goods were invariably sold by the venturers at a uniform price of 3313 above cost price excluding expenses Each of the venturers collected cash proceeds on sales excepting an amount of 250 owing to Kapil by a customer and this was written off as a loss relating to the venture In addition, goods costing 600 in possession of Amarnath were destroyed by fire and an amount of 500 was realized by him as compensation from the Insurance Company On December 20, unsold goods costing 1,500 (at cost) were lying with Kapil Of these, goods costing 600 were taken by Kapil for personal use and the balance was purchased by him at an agreed value of 1,000 Amarnath disposed of all the goods with him on December 31, excepting some damaged goods costing 300 which were written off as unsaleable Prepare a Memorandum Joint Venture Account and the Joint Venture Account as it would appear in the books of Kapil and Amarnath assuming that the final settlement of accounts, between the venturers took place on December 31, 2014