Ashu and Harish are partners sharing profits and losses as 3 : 2 . They decided to dissolve the firm on 31st March, 2018. Their Balance Sheet on the above date was: Liabilities ₹ Assets ₹ Capital A/cs: Building 80,000 Ashu 1,08,000 Machinery 70,000 Harish 54,000 1,62,000 Furniture 14,000 Creditors 88,000 Stock 20,000 Bank Overdraft 50,000 Investments 60,000 Debtors 48,000 Cash in Hand 8,000 3,00,000 3,00,000 The firm was dissolved on 1st April,2018 and the Assets and Liabilities were settled as follows :(a) Land and Building b 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.Ashu is to take over the building at ₹ 95,000 and Machinery and Furniture is taken over by Harish at value of ₹ 80,000. Ashu agreed to pay Creditor and Harish agreed to meet Bank overdraft. Stock and Investments are taken by both partner in profit-sharing ratio. Debtors realised for ₹ 46,000, expenses of realisation amounted to ₹ 3,000. Prepare necessary Ledger Accounts.