On January 1, 2020, Bankruptcy Partnership entered liquidation. The partner's balances on this date are as follows:

Anno (25%) P125,000Caring (35%) P270,000Janang (40%)P185,000

The partnership has liabilities amounting to P220,000, including a loan from Caring P30,000. Cash on hand before the start of liquidation is P40,000.

Assume that certain assets were sold for P370,000 and the rest of the noncash assets were sold at a loss of P210,000. How much cash will be distributed to the partners?

Group of answer choices

a. P220,000

b. P590,000

d. P370,000

c. P400,000

On January 1, 2020, Bankruptcy Partnership entered liquidation. The partner's balances on this date are as follows:

Anno (25%) P125,000Caring (35%) P270,000Janang (40%)P185,000

The partnership has liabilities amounting to P220,000, including a loan from Caring P30,000. Cash on hand before the start of liquidation is P40,000

Assume that if Caring received P112,750, how much was the loss from the realization of the noncash assets?

Group of answer choices

c. P535,000

d. P526,250

a. P497,250

b. P262,750