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Carreon purchased an interest in the C2 Partnership of Calvo and Calma by paying Calvo P72,000 for half of his capital and half of his
Carreon purchased an interest in the C2 Partnership of Calvo and Calma by paying Calvo P72,000 for half of his capital and half of his 50% profit sharing interest. At this time, the capital balance of Calvo was P96,000 and the capital balance of Calma was P168,000. Carreon should receive a credit to his capital account of?
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