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) P and Q entered into a joint venture to construct a house for a price of L 8,00,000. For this purpose P put L

) P and Q entered into a joint venture to construct a house for a price of L 8,00,000. For this purpose P put L 2,00,000 and Q L 1,50,000 into joint bank A/c opened for this purpose. The payments as follows : Materials L 60,000 Salary & wages L 1,40,000 Plant & Machinery L 20,000 These payments were made from joint bank A/c, but in addition P supplied cement bags valued L10,000. The house was constructed and paid the contract price. The plant and machinery taken over by Q @ L 10,000 and unused materials was taken by P @ L 5,000. They shared the profit in the ratio of 2:1. Show 1) Joint venture A/c 2) Joint Bank A/c 3) Co-ventures A/c

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