X and Y are partners in a firm sharing profits in the ratio

46 :- X and Y are partners in a firm sharing profits in the ratio of 3:2. They admitted Z as a partner and fixed new profit-sharing ratio as 3:2:1. At the time of admission of Z, debtors and provision for doubtful debts existed at Rs 50,000 and Rs 5,000 respectively. All debtors are good. Pass the necessary journal entries.

Solution :-