Gopal, Heera and Iqbal were partners in a firm sharing profits and losses equally. Iqbal died on 1st April, $\displaystyle 202$ 2. Final dues payable to Iqbal's executor as on the date of death amounted to ₹ $\displaystyle 4,00$,000. Starting from 31st March, $\displaystyle 2023$, the executor was to be paid in two equal annual instalments of ₹ $\displaystyle 2,00,000$ each, with interest @ $\displaystyle 10$% per annum. Accounts are closed on 31st March every year. Prepare Iqbal's executor's account till he is finally paid.

Dr. Iqbal’s Executor’s Account Cr. Date Particulars ` Date Particulars ` $\displaystyle 2023$ $\displaystyle 2022$ March $\displaystyle 31$ To Bank A/c (½) $\displaystyle 2,40,000$ April $\displaystyle 1$ By Iqbal’s Capital A/c ($\displaystyle 1$) $\displaystyle 4,00,000$ ” To balance c/d (½) $\displaystyle 2,00,000$ $\displaystyle 2023$ March $\displaystyle 31$ By Interest A/c (½) $\displaystyle 40,000$ $\displaystyle 4,40,000$ $\displaystyle 4,40,000$ $\displaystyle 2024$ $\displaystyle 2023$ March $\displaystyle 31$ To Bank A/c (½) $\displaystyle 2,20,000$ April $\displaystyle 1$ By balance b/d (½) $\displaystyle 2,00,000$ $\displaystyle 2024$ March $\displaystyle 31$ By Interest A/c (½) $\displaystyle 20,000$ $\displaystyle 2,20,000$ $\displaystyle 2,20,000$