X and Y are partners in a firm sharing profits and losses

53 :- X and Y are partners in a firm sharing profits and losse in the ratio of 3:2. On 1^st April 2024, they admit Z as a partner for 1/5^th share in profits. On that date, there was a balance of Rs 1,50,000 in general reserve and a debit balance of Rs 20,000 in the profit and loss account of the firm. Pass necessary journal entries regarding adjustment of reserve and accumulated profit/loss.

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