Amar, Ali and Ajay were partners in a firm sharing profits and losses in the ratio of 2 : 2 : 1.
On 1st April, 2024, Ajay decided to retire from the firm. On that day, the balance in his capital account
after making necessary adjustments on account of reserves, revaluation of assets and reassessment of liabilities
was ₹2,64,000. Amar and Ali agreed to pay him ₹3,00,000 in full settlement of his claim.
Calculate Ajay’s share of goodwill and pass the necessary journal entry for the same.