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Aditya and Balan are partners sharing profits and losses in 3 : 2 ratio. They Christopher for 1/4 share in The profits. The new profit sharing ratio agreed 2:1:1. Christopher brought Rs. 50,000 for his capital. His share of goodwill was agreed to at Rs.15,000. Christopher could bring only Rs.10,000 out of his share of goodwill. Record necessary journal entries in the books of the firm?

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Sacrificing Ratio = Old Ratio New Ratio

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