(20) Anita, Babita and Chandrika were carrying on business. The profit sharing proportion was 5:3respectively. Their Balance Sheet as on 31st March, 2011 was as under:Balance Sheet as on 31st March, 2011LiabilitiesAmount AmountAssetsAmount Amount?Sundry Creditors80,000 plant and Machinery17,50Bills Payable15.500 Investments12,80General Reserve3.000 Stock28,00Capital Alcs :Sundry Debtors18,000Anita3.000Less : Provision1,00017.00Babita2.000Goodwill15,30Chandrika1.000 6,000 Cash at Bank1.04,50013,901,04,50On this date the firm was dissolved the assets realised as under:Investment * 6,000; Stock * 20,000; Debtors ? 12,000; Plant and Machinery 10,000; A contingent liability* 3,500 was matured at the time of realisation. Nothing was realised for goodwill. Expenses of realisation incurred400. All the partners are declared insolvent. Nothing could be recovered from the estate of partners.Prepare Journal to close the books of the firm.​