Mamta, Manoj and Rupesh are partners in a firm sharing profits and losses in the proportion of 3:1:1 respectively. Their Balance Sheet as on31st March, 2012 was as shown below: Balance Sheet as on 31st March, 2021 Liabillities Assets Creditors General Reserve Bills Payable Capital A/cs : Mamta Manoj Rupesh 4,000 5,000 2,500 12,500 10,000 5,000 Cash Debtors Stock Land and Building Machinery Motor Van Goodwill 1,250 6,000 5,000 7,500 3,500 10,000 5,750 39,000 39,000 On 31st March 2012 Rupesh was retired and the following adjustments hav been agreed upon : 1) 2) 3) 4) Goodwill was revalued at 5,000. Assets and Liabilities were revalued as follows : Debtors 5,000, Stock 4,500, Land and Building 12,500 Machinery 3,000 Motor Van 9,500 and Creditors 3,000. Mamta and manoj contribute additional capital of 5,000 and 2,500 respectively. Balance of Rupesh’s Capital Account is transferred to his loan A/c Give Journal entries in the books of new firm.