Rohit , Kunal and Sarthak are partners in a firm . They decided to dissolve their firm . Pass necessary Journal entries for the following after various assets (other than Cash and Bank) and the third party liability have been transferred to Realisation Account :
(a) Kunal agreed to pay off his wife's loan of ₹ 6,000 .
(b) Total Creditors of the firm were ₹ 40,000 . Creditors worth ₹ 10,000 were given a piece of furniture costing ₹ 8,000 in full and final settlement . Remaining Creditors allowed a discount of 10% .
(c) Rohit had given a loan of ₹ 70,000 to the firm which was duly paid.
(d) A machine which was not recorded in the books was taken over by Kunal at ₹ 3,000 , whereas its expected value was ₹ 5,000 .
(e) The firm had a debit balance of ₹ 15,000 in the Profit and Loss Account on the date of dissolution .
(f) Sarthak paid the realisation expenses of ₹ 16,000 out of his private funds , who was to get a remuneration of ₹ 15,000 for completing dissolution process and was responsible to bear all the realisation expenses.

Explanation

(b) Dr. Realisation A/c and Cr. Bank A/c by ₹ 27,000 .
(f) Dr. Realisation A/c and Cr. Sarthak's Capital A/c by ₹ 15,000.