new On [WBHS] 18. Following is the balance sheet on 31st December, 2019 of Sushil and Satish who are in partnership sharing profits and losses in the ratio of 3: 2 respectively: Liabilities Creditors Capitals accounts: OCLC Sushil Satish Balance Sheet of Sushil and Satish as on 31st December, 2019 Amount 18,400 25,000 9,000 es They admit Samir into partnership with effect (i) Samir is to bring in 16,000 as capital and remaining in the business. Assets Freehold premises Machinery Stock Debtors Less Reserve Bank balance mollbars 22,500 4,000 Amount 10,000 5,400 12,500 18,500 6,000 52,400 52,400 from 1st January, 2020 on the following conditions : 5,800 for two-sevenths share of goodwill, both the sums 16,000; Stock to be discounted at 10% and Reserve for Cu (ii) Freehold premises have been revalued at doubtful debts to be reduced by 1,000. (iii) Partners decide to raise the goodwill of the firm in its books on the same basis on which Samir wa admitted therein. Pass Journal entries in