Q2 (Settlement of Creditor through Asset): Joseph and David are partners sharing profits and losses equally. They decided to dissolve their firm. Give journal entries for settlement of creditors through assets in the following alternative cases: (1) Aaron a creditor (already transferred to Realisation Account) for $ 25,000 accepted Furniture (already transferred to Realisation Account) at $ 20,000 in full settlement Of his claim. (2) Altair, a creditor (already transferred to Realisation Account) for $ 25,000 accepted furniture (already transferred to Realisation Account) at $ 20,000 in settlement of her claim. (3) Alvis, a creditor (already transferred to Realisation Account) for $ 30,000 agreed To take Machinery (already transferred to Realisation Account) at $ 48,000 ( book value $ 50,000 in settlement of his claim. (4) Anders a creditor of $ 20,000 (unrecorded in the books) agreed to accept computer (unrecorded in the books) at $15,000 plus $ 2,000 in full settlement of her claim.