A, B and C are partner sharing profits i...

A, B and C are partner sharing profits in the ratio of 1 : 2 : 3. On 1-4-2016 they decided to share the profits equally. On the date there was a credit balance of Rs. 1,20,000 in their Profit and Loss Account, it is decided to record and adjustment entry for the same. In the necessarry adjustment entry to give effect to the above arrangement :

Dr. A by Rs. 50,000, Cr. B By Rs. 50,000

Cr. A by Rs. 50,000, Dr. B by Rs. 50,000

Dr. A by Rs. 50,000, Cr. C by Rs. 50,000

Cr. A by Rs. 50,000, Dr. C by Rs. 50,000

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