Madhur and Neeraj were partners in a firm sharing profits and losses in the ratio of 3: 2. The Balance Sheet as at 31st March, 2024 was as follows:…

Madhur and Neeraj were partners in a firm sharing profits and losses in the ratio of $\displaystyle 3$ : 2. The Balance Sheet as at 31st March, $\displaystyle 2024$ was as follows : Balance Sheet of Madhur and Neeraj as at 31st March, $\displaystyle 2024$

Liabilities	Amount (₹)	Assets	Amount (₹)
Capitals :		Machinery	$\displaystyle 7,00,000$
Madhur $\displaystyle 9,00,000$		Investments	$\displaystyle 4,00,000$
Neeraj $\displaystyle 8,00,000$	$\displaystyle 17,00,000$	Debtors	$\displaystyle 11,00,000$
Creditors	$\displaystyle 6,00,000$	Stock	$\displaystyle 2,00,000$
Bills Payable	$\displaystyle 2,00,000$	Cash at Bank	$\displaystyle 1,00,000$
	$\displaystyle 25,00,000$		$\displaystyle 25,00,000$

The firm was dissolved on the above date and the following transactions took place : (i) Machinery was taken over by creditors in full settlement of their account. (ii) Investments were taken over by Neeraj at ₹ $\displaystyle 5,00$,000. (iii) One of the debtors of ₹ $\displaystyle 1,00,000$ was untraceable. Remaining debtors were realised at $\displaystyle 10$% less. (iv) Stock was taken over by Madhur at $\displaystyle 50$% discount. (v) Realisation expenses amounting to ₹ $\displaystyle 1,00,000$ were paid by Madhur. Prepare Realisation Account.