1. On January 1, 2022, Ram and Rocco, sole proprietors, agreed to form R and R partnership. They have the following trial balances: Credit Credit Ram Debit 15,000 20,000 Rocco Debit 12,000 18,000 1,000 800 Cash Accounts receivable Allowance for uncollectible accounts Merchandise inventory Equipment Accumulated depreciation Accounts payable Capital 32,000 80,000 25,000 30,000 30,000 15,000 101,000 9,000 6,000 69,200 The partners agreed that Ram's receivables have a realizable value of P17,500, his inventory is worth P35,000 and his equipment has a fair value of P45,000. Rocco's receivable should realize P16,000, his inventory has a market value of P27,500 and his equipment has a fair value of P25,000. Rocco will contribute enough cash so that his capital will equal Ram's capital credit. What is the amount of cash contributed by Ram? A. 23,000 C. 26,900 B. 42,000 D. 42,800