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P, Q and R are equal partners with fixed...

P, Q and R are equal partners with fixed capitals of Rs.5,00,000, Rs.4,00,000 and Rs.3,00,000 respectively. After closing the accounts for the year ending 31st March, 2019 it was discovered that interest on capitals was provided @7% instead of 9% p.a. In the adjusting entry :

A

P will be credited by Rs.2,000 and Q will be debited by Rs.2,000

B

P will be debited by Rs.2,000 and Q will be credited by Rs.2,000

C

P will be debited by Rs.2,000 and R will be credited by Rs.2,000

D

P will be credited by Rs.2,000 and R will be debited by Rs.2,000

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