Old mathjax Webview within 5 minutes or else skip please 47. A, B and C were partners. Their capitals were 530,000; 320,000 and 310,000 respectively on 1st April, 2013. According to the partnership deed they were entitled to an interest on capital at 5% p.a. In addition B was also entitled to draw a salary of 3500 per month. C was entitled to a commission of 5% on the profits after charging the interest on capital, but before charging the salary payable to B. The net profits for the year ended 31st March, 2014 were 30,000, distributed in the ratio of their capitals without providing for any of the above adjustments. The profits were to be shared in the ratio of 2:2: 1. Pass the necessary adjustment entry showing the workings clearly