How much is the capital balance of C as of December 31,2019? * (1 Point) A, B and Z formed a partnership on April 1, 2019 with the following investments: A-P 500,000 B-P 600,000 C-P700,000 During the year, the following transactions took place: Additional investment-A-P 100,000 Withdrawals -B-P 150,000; C-P 100,000 The partnership has a credit balance in the income summary account of P 120,000 as of December 31,2019. The profit and loss agreement of the ABC Partnership contains the following: 10% interest is to be paid on that portion of a partner's ending capital balance in excess of P 500,000. Partner B is to receive a bonus equal to 10% of partnership income after interest and salaries. Annual salaries of P 24,000 and P 36,000 are to be paid to partners A and C, respectively. Balance is to be divided equally. P 600,000 P 652,500 P 658,000 P 653,500