The Balance Sheet of Ravi and Kamal as at 31st March, 2022, was as follows: The partners shared profits in the ratio of 9:7. The partnership firm was dissolved on the date of the Balance Sheet subject to the following adjustments:
(i) Property realized 75%. (ii) Bad debts and discount amounted to ₹ 500. (iii) Stock realized ₹ 2,525. (iv) Creditors allowed a discount of 2%. (v) Expenses of dissolution amounted to ₹ 75 which were paid by Ravi.
You are required to prepare the Realisation Account.
