Profit earned by a partnership firm for the year ended 31st March, 2023 were distributed equally between the partners – Pankaj and Anu – without allowing interest on capital. Interest due on capital was Pankaj – ₹3,000 and Anu – ₹1,000. Pass necessary adjustment entry.

 Profit earned by a partnership firm for the year ended 31st March, 2023 were distributed equally between the partners – Pankaj and Anu – without allowing interest on capital. Interest due on capital was Pankaj – ₹3,000 and Anu –  ₹1,000.

Pass necessary adjustment entry.

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