L, M and N were partners sharing profits and losses equally.
N’s capital account was as follows.
What explained the entries in the capital account?
1 )
N bought a motor vehicle from the business paying $\$ 1000$ more than its book value.
2 )
N’s capital account includes his share of the loss on the disposal of a motor vehicle.
3 )
N increased his capital by introducing a motor vehicle and paying cash into the bank.
N retired and took the amount due to him in the form of a motor vehicle and money from the bank.
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