Achal and Vichal were partners in a firm sharing profits in the ratio of ` 3: 5` . On 31st March , 2019 , their Balance Sheet was as follows :

The firm was dissolved on 1st April , 2019 and the Assets and Liabilities were settled as follows :
(a) Land and Building realised ₹ 4,30,000.
(b) Debtors realised ₹ 2,25,000 (with interest ) and ₹1,000 were recovered for Bad Debts written off last year.
(c) There was an Unrecorded Investment which was sold for ₹ 25,000.
(d) Vichal took over Machinery at ₹ 2,80,000 for cash.
(e) 50% of the Creditors were paid ₹ 4,000 less in full settlement and the remaining Creditors were paid full amount .
Pass necessary Journal entries for dissolution of the firm .