Question No:1 10 Marks Imran, Irphan and Issa started a partnership firm on January 1, 2019. They contributed RO 25,000, RO 20,000 and RO 15,000 respectively as their capitals and decided to share profits in the ratio of 3:2:1. The partnership deed provided that Imran is to be paid salary of RO 500 p.m. and Irphan is to be paid a commission of RO 2,500. It also provided that interest on capital be allowed @ 8% p.a. The drawings for the year were: Imran RO 3,000, Irphan RO 2,000 and Issa RO 500. Interest on drawings was charged @ 5% to all partners. The net amount of profit as per the profit and loss account for the year ended 2019 was RO 35,660. Required: Prepare the necessary journal entries relating to Profit and Loss Appropriation