On July $1,2016,$ Chris and Topher decided to form a partnership called "TOPS & Co$."$ with Chris

investing his business and Topher investing cash for $60\%$ interest in the partnership. The trial

balance of Chris on June $30$ showed the following:

The following conditions were agreed upon:

a$.$ Accounts Receivable of P$6,000$ should be written off.

b$.$ Furniture acquired $5$ years ago have an estimated value of $P4,000$

c$.$ The customer's