23. Ortiz and Ponce are partners sharing profits in this proportion - 60:40. A statement of financial position prepared for the partners on April 1, 2016: Cash P48,000 Accounts receivable 92,000 Inventories 165,000 Equipment P70,000 Less: Accumulated 45,000 25,000 depreciation Total assets P330,00 0 Accounts payable P89,000 Ortiz, capital 133,000 Ponce, capital 108,00 0 Total liabilities and capital P330,00 0 On this date, the partners agree to admit Rexes as a partner. The terms of the agreement summarized below. Assets and liabilities are to be restated as follows: a) An allowance for possible uncollectibles of P4,500 is to be established. b) Inventories are to be restated at their present replacement value of P170,000. c) Accrued expenses of P4,000 are to be recognized. Ortiz, Ponce, and Rexes will divide profits in the ratio of 5:3:2. Capital balances of the partners after the formation of the new partnership are to be in the aforementioned ratio, with Ortiz and Ponce making cash settlement between themselves outside of the partnership to adjust their capitals, and Rexes investing cash in the partnership for his interest. How much cash is to be invested by Rexes