Atul and Amit are partners sharing profits in the ratio of 3 : 2. Their Balance Sheet as at 31st March, 2019 is as follows: Liabilities Amount (₹) Assets Amount (₹) Capital A/cs: Plant and Machinery 1,80,000 Atul 1,00,000 Furniture 30,000 Amit 1,00,000 2,00,000 Computer 10,000 Current A/cs: Stock 40,000 Atul 70,000 Debtors 50,000 Amit 50,000 1,20,000 Bills Receivable 10,000 Creditors 40,000 Cash 10,000 Bills Payable 10,000 Bank 40,000 3,70,000 3,70,000 ​Abhay is admitted as a partner for 1/4th share on 1st April, 2019 on the following terms:(a) Abhay is to bring ₹ 65,000 as capital after adjusting amount due to him included in creditors and his share of Goodwill.(b) ₹ 10,000 included in creditors is payable to Abhay which is to be transferred to his Capital Account.(c) Furniture is to reduced by ₹ 3,000 and Plant and Machinery is to be increased to ₹ 1,98,000.(d) Stock is overvalued by ₹ 4,000.(e) A Provision for Doubtful Debts is to be created 5%.(f) Goodwill is to be valued at 2 years' purchase of average profit for four years. Profits of four years ended 31st March were as follows: 2018-19 − ₹ 25,000, 2017-18 − ₹ 10,000, 2016-17 − ₹ 2,500, and 2015-16 − ₹ 2,500.Pass the Journal entries for the above arrangement.