P, Q, and R are partners in a firm sharing profits in the ratio of \(2:2:1\). R retires, and the Balance Sheet of the firm as on that date was as under: Balance Sheet as on the Date of Retirement
\[\begin{array}{|l|r|l|r|} \hline Liabilities & Amount (Rs.) & Assets & Amount (Rs.) \\ \hline \text{Creditors} & \text{30,000} & \text{Cash} & \text{8,000} \\ \hline \text{General Reserve} & \text{60,000} & \text{Debtors} & \text{75,000} \\ \hline \text{P\&L Account} & \text{15,000} & \text{Stock} & \text{90,000} \\ \hline \text{Workmen's Compensation Reserve} & \text{10,000} & \text{Plant} & \text{1,40,000} \\ \hline \text{Capital Accounts:} & \text{} & \text{Patents} & \text{22,000} \\ \hline \text{\hspace{0.5cm} P} & \text{1,00,000} \\ \hline \text{\hspace{0.5cm} Q} & \text{80,000} \\ \hline \text{\hspace{0.5cm} R} & \text{40,000} \\ \hline \text{Total} & \text{3,35,000} & \text{Total} & \text{3,35,000} \\ \hline \end{array}\]Adjustments: 1. Stock is to be reduced to Rs. 82,000.
2. Plant is to be reduced by Rs. 20,000.
3. Patents are found valueless.
4. There is no liability on account of the Workmen's Compensation Reserve.
Record the necessary journal entries at the time of retirement.