Q-4: A, B and C were partners. They share profit and losses in the ratio of 2:1:2. Their balance sheet was as under: [05 Marks] Assets Equities Cash and Bank 33,000 Accounts Payable 4,000 Accounts Receivable 29,000 Notes Payable 8,000 Merchandise Inventory 26,000 A's Capital 40,000 Furniture and Fixture 24,000 B's Capital 20,000 C's Capital 40,000 112,000 112,000 The partner decided to dissolve the firm. Required: Given entries in general journal to record the dissolution of the firm considering the following transaction. a) Cash Rs. 25,000 was collected from debtors in full settlement. b) Cash Rs. 72,000 received from the sale of inventory and furniture and fixture. "Paid off the liabilities in full. dj All the available balance of cash after considering the above transaction distributed among the partners