Sudha, Sudama and Sulochna were partners in a firm sharing profits equally. On 31st March , $\displaystyle 2020$, Sudha retired. On the date of retirement ₹ $\displaystyle 2,40,000$ became due to her. Sudama and Sulochana agreed to pay Sudha 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 Sudha's loan account till it is fully paid.

Dr. Sudha’s Loan A/c Cr. Date Particulars Amount Date Particulars Amount $\displaystyle 2020$ $\displaystyle 2020$ March $\displaystyle 31$ To Balance c/d $\displaystyle 2,40,000$ March $\displaystyle 31$ By Sudha’s Capital A/c $\displaystyle 2,40,000$ $\displaystyle 2,40,000$ $\displaystyle 2,40,000$ $\displaystyle 2021$ $\displaystyle 2020$ March $\displaystyle 31$ To Bank A/c $\displaystyle 84,000$ April $\displaystyle 1$ By Balance b/d $\displaystyle 2,40,000$ $\displaystyle 2021$ March $\displaystyle 31$ To Balance c/d $\displaystyle 1,80,000$ March $\displaystyle 31$ By Interest A/c $\displaystyle 24,000$ $\displaystyle 2,64,000$ $\displaystyle 2,64,000$ $\displaystyle 2022$ $\displaystyle 2021$ March $\displaystyle 31$ To Bank A/c $\displaystyle 78,000$ April $\displaystyle 1$ By Balance b/d $\displaystyle 1,80,000$ $\displaystyle 2022$ March $\displaystyle 31$ To Balance c/d $\displaystyle 1,20,000$ March $\displaystyle 31$ By Interest A/c $\displaystyle 18,000$ $\displaystyle 1,98,000$ $\displaystyle 1,98,000$ $\displaystyle 2023$ $\displaystyle 2022$ March $\displaystyle 31$ To Bank A/c $\displaystyle 72,000$ April $\displaystyle 1$ By Balance b/d $\displaystyle 1,20,000$ $\displaystyle 2023$ March $\displaystyle 31$ To Balance c/d $\displaystyle 60,000$ March $\displaystyle 31$ By Interest A/c $\displaystyle 12,000$ $\displaystyle 1,32,000$ $\displaystyle 1,32,000$ $\displaystyle 2024$ $\displaystyle 2023$ March $\displaystyle 31$ To Bank A/c $\displaystyle 66,000$ April $\displaystyle 1$ By Balance b/d $\displaystyle 60,000$ $\displaystyle 2024$ March $\displaystyle 31$ By Interest A/c $\displaystyle 6,000$ $\displaystyle 66,000$ $\displaystyle 66,000$