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Neeta and Sumita are partners sharing profits and losses in the ratios of 2:1. They admit Reeta as a partner for 1/4th share. Reeta pays

Neeta and Sumita are partners sharing profits and losses in the ratios of 2:1.

They admit Reeta as a partner for 1/4th share. Reeta pays Rs. 50,000 as capital

but does not bring any amount for goodwill. The goodwill of the new firm is

valued at Rs. 36,000. Give Journal entries.

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