Gupta, Jain and Singh were partners in a firm sharing profits and losses in the ratio of $\displaystyle 3$ : $\displaystyle 2$ : 1. On 31st March, $\displaystyle 2020$, Gupta retired. On the date of retirement ₹ $\displaystyle 4,80,000$ became due to him. Jain and Singh agreed to pay Gupta in four equal yearly instalments plus interest @ $\displaystyle 10$% p.a. on the unpaid balance starting from 31st March, 2021. The firm closes its books on 31st March every year. Prepare Gupta's Loan Account till it is fully paid.

Dr. Gupta’s Loan A/c Cr. Date Particulars Amount Date Particulars Amount $\displaystyle 2020$ $\displaystyle 2020$ March $\displaystyle 31$ To Balance c/d $\displaystyle 4,80,000$ March $\displaystyle 31$ By Gupta’s Capital A/c $\displaystyle 4,80,000$ $\displaystyle 4,80,000$ $\displaystyle 4,80,000$ $\displaystyle 2021$ $\displaystyle 2020$ March $\displaystyle 31$ To Bank A/c $\displaystyle 1,68,000$ April $\displaystyle 1$ By Balance b/d $\displaystyle 4,80,000$ $\displaystyle 2021$ March $\displaystyle 31$ To Balance c/d $\displaystyle 3,60,000$ March $\displaystyle 31$ By Interest A/c $\displaystyle 48,000$ $\displaystyle 5,28,000$ $\displaystyle 5,28,000$ $\displaystyle 2022$ $\displaystyle 2021$ March $\displaystyle 31$ To Bank A/c $\displaystyle 1,56,000$ April $\displaystyle 1$ By Balance b/d $\displaystyle 3,60,000$ $\displaystyle 2022$ March $\displaystyle 31$ To Balance c/d $\displaystyle 2,40,000$ March $\displaystyle 31$ By Interest A/c $\displaystyle 36,000$ $\displaystyle 3,96,000$ $\displaystyle 3,96,000$ $\displaystyle 2023$ $\displaystyle 2022$ March $\displaystyle 31$ To Bank A/c $\displaystyle 1,44,000$ April $\displaystyle 1$ By Balance b/d $\displaystyle 2,40,000$ $\displaystyle 2023$ March $\displaystyle 31$ To Balance c/d $\displaystyle 1,20,000$ March $\displaystyle 31$ By Interest A/c $\displaystyle 24,000$ $\displaystyle 2,64,000$ $\displaystyle 2,64,000$ $\displaystyle 2024$ $\displaystyle 2023$ March $\displaystyle 31$ To Bank A/c $\displaystyle 1,32,000$ April $\displaystyle 1$ By Balance b/d $\displaystyle 1,20,000$ $\displaystyle 2024$ March $\displaystyle 31$ By Interest A/c $\displaystyle 12,000$ $\displaystyle 1,32,000$ $\displaystyle 1,32,000$