N, S and G were partners in a firm sharing profits and losses in the ratio of 2 : 3 : 5. On 31st March, 2016 their Balance Sheet was as under: Liabilities Amount (₹) Assets Amount (₹) Creditors 1,65,000 Cash 1,20,000 General Reserve 90,000 Debtors 1,35,000 Capitals: Less: Provision 15,000 1,20,000 N 2,25,000 Stock 1,50,000 S 3,75,000 Machinery 4,50,000 G 4,50,000 10,50,000 Patents 90,000 Building 3,00,000 Profit and Loss Account 75,000 13,05,000 13,05,000 G retired on the above date and it was agreed that:(a) Debtors of ₹ 6,000 will be written off as bad debts and a provision of 5% on debtors for bad and doubtful debts will be maintained.(b) Patents will be completely written off and stock, machinery and building will be depreciated by 5%. (c) An unrecorded creditor of ₹ 30,000 will be taken into account. (d) N and S will share the future profits in 2 : 3 ratio.(e) Goodwill of the firm on G's retirement was valued at ₹ 90,000.Pass necessary Journal entries for the above transactions in the books of the firm on G's retirement.