7. The December 31, 2012 statement of financial position accounts of DJM Partnership are as follows:

Cash P20,000

Receivable from Day 20,000

Other Assets 420,000

Accounts Payable 170,000

Day, Capital 120,000

Jay, Capital 90,000

May, Capital 80,000

The partners' profit and loss percentages are Day - 50%, Jay - 30%, and May - 20%.On January 1 of next year, the partners decide to liquidate the partnership. They agree that all cash should be distributed as it becomes available during the liquidation process.If cash of P220,000 (including the P20,000 cash on hand) becomes available, it should be distributed first to settle the accounts payable and then to Jay amounting to?