P, Q and R were partners in a firm sharing profits and losses in the ratio of $\displaystyle 4$ : $\displaystyle 3$ : 3. On $\displaystyle 31.3.2022$ R retired from the firm. On R's retirement the balance sheet of the firm showed sundry debtors at ₹ $\displaystyle 3,75$,000. It was decided to write off ₹ $\displaystyle 5,000$ as bad debts and create a provision of 2.%% on debtors for bad and doubtful debts. Pass necessaly journal entries for the above transactions in the books of the firm on R's retirement.

Books of P, Q and R Journal L.F Debit Credit Date Particulars Amount Amount (₹) (₹) $\displaystyle 2022$ March $\displaystyle 31$ Bad Debts A/c Dr. $\displaystyle 5,000$ To Sundry Debtors A/c $\displaystyle 5,000$ (Bad debts ₹ $\displaystyle 5,000$ written off on R’s retirement) ,, ,, Revaluation A/c Dr. $\displaystyle 5,000$ $\displaystyle 5,000$ To Bad Debts A/c (Bad debts written off transferred to revaluation) ,, ,, Revaluation A/c Dr. $\displaystyle 9,250$ To Provision for bad and $\displaystyle 9,250$ doubtful debts (Created provision for bad and doubtful debts) Q. From the following information obtained from the…………………………