Ankur and Bobby were, into the business of providing software solutions in India. They were sharing profits and losses in the ratio of 3: 2. They admitted Rohit for 1/5 share in the firm. Rohit, an alumni of Chennai would help them, to expand their business to various South African countries where he been working earlier. Rohit is guaranteed a minimum profit of 2,00,000 for the year. In case of any deficiency, Rohit's share is to be borne by Ankur and Bobby in the ratio 4: 1. Loss for the year was Rs. 10,00,000. Pass the necessary Journal entries.