the assets were realised in instalments and payment was made on the proportionate ca 609155

For partnership dissolved on July 31, balance sheet on the date of dissolution was as follows:

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Capitals:			Cash	16,200
Mohan	1,14,000		Sundry Assets	2,83,800
Mohamed	72,000
Martin	54.000	2,40,000
Loan: Mohamed		15,000
Sundry Creditors		45,000
		3,00,000	–	3,00,000

The assets were realised in instalments and payment was made on the proportionate capital basis. Creditors were paid Rs 43,500 in full settlement of their accounts. Expenses on realisation were estimated to be Rs 8,100 but actual amount spent on this was Rs 6,000. This amount was paid on Nov 2. Draw up memorandum of distribution of cash that was realised as follows:

On Aug 10, Rs 37,800

On Sep 15, Rs 90,000

On Nov 2, Rs 1,20,000

The partners shared profits and losses in the ratio of 2:2:1

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