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Salem and Muhanna are partners in a firm sharing profit in the ratio of 5:3. The partnership agreement provided the following: Salem is to be

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Salem and Muhanna are partners in a firm sharing profit in the ratio of 5:3. The partnership agreement provided the following: Salem is to be paid salary of OMR 1,500 per month. Muhanna is to get a commission of OMR 12,000 per year. Interest on capital is to be allowed @ 4% p.a. Interest on drawings is to be charged @ 5% p.a. The capital of Salem was OMR 140,000 and Muhanna OMR 100,000. Drawings made by Salem and Muhanna are OMR 36,000 and OMR 24,000, respectively. The share of Salem and Muhanna in the profit of the partnership for the year ended December 31, 2019 are OMR 24,000 and OMR 14,400, respectively. How much is the interest on capital paid to Muhanna? How much is the interest on drawings of Salem? How much is the capital balance of Muhanna using fluctuating method

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