Clare and Mary decided to form a new partnership on January 2, 2021. Claire will invest the assets and liabilities of her sole proprietorship business into the partnership. The following are the accounts balances reported in the statement of financial position of Clares business as of January 2, 2021:

Cash	300,000
Accounts Receivable	82,500
Merchandise Inventory	98,000
Furniture and Equipment (at cost)	300,000
Accounts Payable	60,000
Claire, Capital	720,500

Mary will be investing equipment of P75,000 and cash that will give her 25% capital credit in the partnership being formed after reflecting the following adjustments in Claires existing books of accounts:

a) It is estimated that 10% of the receivables may prove to be uncollectible.

b) Merchandise inventorys fair market value amounted to P75,000.

c) Claire did not record any depreciation for its Furniture and Equipment since acquiring them on January 2, 2020 . These assets should have been depreciated over an estimated life of ten years with a salvage value of P15,000 using the straight line method.

How much is the amount of capital of Claire in the newly-formed partnership?

How much is the amount of CASH that Mary will invest in the partnership?