A, B and C were partners in a firm. On 1-4-2015 their capitals stood at Rs 5,00,000, Rs 2,50,000 and Rs 2,50,000 respectively. As per the provisions of the partnership deed:
(a) C was entitled for a salary of Rs 10,000 p.m.
(b) Partners were entitled to interest on capital at 5% p.a.
(c) Profits were to be shared in the ratio of capitals.
The net profit for the year ended 31.3.2016 of Rs 3,30,000 was divided equally without providing for the above terms.
Pass an adjustment entry to rectify the above error.