X and Y shared profits and losses in the ratio of 3:2 with effect from 1st April, 2019. They decided to share profits equally. Goodwill of the firm was valued at Rs. 60,000. The adjustment entry for Goodwill will be:
1
Dr. Y's Capital A/c and Cr. X's Capital A/c with Rs. 6,000.
2
Dr. X's Capital A/c and Cr. Y's Capital A/c with Rs. 6,000.
3
Dr. X's Capital A/c and Cr. Y's Capital A/c with Rs. 6,00.
4
Dr. Y's Capital A/c and Cr. X's Capital A/c with Rs. 6,00.
5
None of the above