A balance sheet for the partnership of KK, LL and MM, who share profits 2:1:1 respectively, shows the following balances just before liquidation:

Cash Other assets Liab. KK, Cap. LL. Cap. MM, Cap.

P48,000 P238,000 P80,000 P88,000 P62,000 P56,000

In the first month of liquidation, P128,000 was received on the sale of certain assets, Liquidation expenses of P4,000 were paid, and additional liquidation expenses of P3,200 are anticipated before liquidation is completed. Creditors were paid P22,400. Available cash was distributed to the partners.

The cash to be received by each partner based on the above data:

KK LL MM KK LL MM

a. P56,600 P28,300 P28,300 c. P29,400 P32,700 P26,700

b. 86,000 61,000 55,000 d. 88,000 62,000 56,000