Pule, Pulane and Puleng have been in partnership for a number of years sharing profits and losses in the ratio of 2:1:1. On 1 December 2020, they dissolved the partnership. The statement of financial position for the partnership as at 30 November 2020 was as follows:

Statement of financial position on 30 November 2020

Assets

Non-current assets M M

Property 100,000

Furniture and fittings 30,000

Motor vehicle 20,000 150,000

Current assets

Inventory 20,000

Trade receivables 49,000

Bank 5,000 74,000

Total assets 224,000

EQUITY AND LIABILITIES

Partners capital accounts

Pule 80,000

Pulane 30,000

Puleng 50,000 160,000

Partners current accounts

Pule 7,680

Pulane 8,500

Puleng 5,300 21,480

Non- current liabilities

Loan 10,000

Current liabilities

Trade payables 32,520

Total equity and liabilities 224,000

Additional information

The property was sold for M110,000 and the furniture and fittings were sold for M26,800.

The motor vehicles were sold for M22,300.

M45,900 of outstanding trade receivables were recovered.

The trade payables were settled for M29,350.

The inventory was sold for M21,650.

The loan was repaid in full on 1 December 2020.

Realisation expenses amounted to M2,100.

Required:

Prepare the following accounts on dissolution:

Realisation account (10)

Cash and bank account. (6)

Partners accounts.