# P, Q and R were partners and the balance of their capital accounts on 1st April 2015 were Rs. 8,00,000 (credit); Rs. 5,00,000 (credit) and Rs. 20,000 (debit) respectively. As per the terms of partnership agreement interest on capitals is to be allowed @ 10% p.a. and is to be charged on drawings @ 12% p.a. Partners withdrew as follows: (i) P withdrew Rs. 10,000 p.m. at the end of each month; (ii) Q withdrew Rs. 1,20,000 out of capital on 1st January 2016 (iii) R withdrew Rs. 1,20,000 during the year. The profit for the year ended 31st March 2016 amounted to Rs.4,30,000 You are required to prepare journal entries and partner's capital accounts.

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