Aarav, Karan and Meera were partners in a firm sharing profits and losses equally. On 31st March, $\displaystyle 2023$, Karan retired. On the date of his retirement, $\displaystyle 1,80,000$ became due to him. Aarav and Meera agreed to pay Karan in two equal yearly instalments plus interest @ $\displaystyle 12$% p.a. on unpaid balance, starting from 31st March, 2024. The firm closes its books on 31st March every year. Prepare Karen's loan ac count till it is fully paid.

Books of Aarav, Karan and Meera Dr. Karan’s Loan A/c Cr. Date Particulars Amount Date Particulars Amount (₹) (₹) $\displaystyle 2023$ $\displaystyle 2023$ March $\displaystyle 31$ To Balance c/d $\displaystyle 1,80,000$ March $\displaystyle 31$ By Karan’s Capital A/c $\displaystyle 1,80,000$ $\displaystyle 1,80,000$ $\displaystyle 1,80,000$ $\displaystyle 2024$ $\displaystyle 2023$ March $\displaystyle 31$ To Bank/ Cash A/c $\displaystyle 1,11,600$ April $\displaystyle 1$ By Balance b/d $\displaystyle 1,80,000$ $\displaystyle 2024$ March $\displaystyle 31$ To Balance c/d $\displaystyle 90,000$ March $\displaystyle 31$ By Interest A/c $\displaystyle 21,600$ $\displaystyle 1$/$\displaystyle 2$ $\displaystyle 1$/$\displaystyle 2$ $\displaystyle 2,01,600$ $\displaystyle 2,01,600$ $\displaystyle 2025$ $\displaystyle 2024$ March $\displaystyle 31$ To Bank /Cash A/c $\displaystyle 1,00,800$ April $\displaystyle 1$ By Balance b/d $\displaystyle 90,000$ $\displaystyle 2025$ March $\displaystyle 31$ By Interest A/c $\displaystyle 10,800$ $\displaystyle 1,00,800$ $\displaystyle 1,00,800$