X,Y and Z are partners in a firm sharing profits & losses in the ratio 5:3:2. On 31.03.2020 their Balance sheet was as follows:Liabilities Assetscapital a/c(s) Building. 50,000 X 75,000 Patents. 15,000 Y 62,500 Machinery 75,000 Z 37,500 Stock 37,500Total 1,75,000 Debtors 20,000Sundry Cash at creditors 42,500 bank 20,000Total of balance sheet 2,17,500a) Z died on 31. 7. 2000. Goodwill to be valued at 2.5 yrs purchased of the avg. profits of last 4 yrswhich were: 32,500; 30,000; 40,000 and 37,500.b) Machinery be valued at 70,000.Patents at 20,000 & Building at 62,500.c) For the purpose of calculating Z's share of profits in the year of his death the profits of 2020-21 should be taken to have been accrued on the same scale as in2019 -2000.d) A sum of 17,500 was paidimmediately to the executors of Z & the balance was paid in 4.5 yearly installments together with interest at 12% per annum starting from 31.01 2021. Give necessary journal entries to record the above transactions &Z's executor a/c till payment of due on 31.01.2021.​