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Ansa and Valsa are partners in a firm sharing profits and losses in the ratio of 3:2.

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Ansa and Valsa are partners in a firm sharing profits and losses in the ratio of 3:2. They admit Sona into the partnership fora sixth share for which she brings in Rs. 35000 as capital and Rs. 20,000 for good will. Pass journal entries in the books of the firm.

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Journal

Note: Old ratio itself is the sacrificing ratio here as the ratio between old partners is not changed.

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