On April 1, 2014, Apple and Ayme formed a partnership with each contributing the ff. assets:

	Apple	Ayme
Cash	P 120,000	P 80,000
Machinery and equipment	100,000	340,000
Building		900,000
Furniture and fixtures	40,000

The building is subject to a mortgage loan of P300,000, whish is to be assumed by the partnership. On April 1, 2014, the balance in Ayme's capital account should be

(a) P 980,000

(b) P 1,020,000

(c) P 1,280,000

(d) P 1,320,000