On May 1, 202A, Shawn admits Mendez for an interest in his business. On this date, Shawn's capital account shows a balance of P158,400. The following were agreed upon before the formation of the partnership: 1. Prepaid expenses of P17,500 and accrued expenses of P5,000 are to be recognized 2. 5% of the outstanding accounts receivable of Shawn amounting to P100,000 is to be recognized as uncollectibles. 3. Mende is to be credited with a one-third interest in the partnership and is to invest cash aside from the P50,000 worth of merchandise. The amount of cash to be invested by Mendez and the total capital of the partnership are: + You chose: D) Note: This question displayed answers in random order during the test. A) P32,950 and P248,850, respectively B) P55,300 and P221,200, respectively C) P82,950 and P248,850, respectively X D) P32,950 and P171,200, respectively