20 :- Amit and Sumit entered into a partnership on 1st April 2024 and invested Rs 1,50,000 and Rs 2,50,000 respectively as capital. The Partnership Deed provided for interest on capital @ 10% p.a. It also provided that Capital Accounts shall be maintained following the Fixed Capital Accounts Method. The firm earned a net profit of Rs 1,00,000 for the year ended 31st March 2025. Pass the journal entry for interest on capital.
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