On September 30, 2014, Jay admitted Aly for an interest in his business. On this date, Jay's capital accounts show a balance of Php 158,400. The following were agreed upon before the formation of the partnership.

1. Prepaid expenses of Php 17,500 and accrued expenses of Php 5,000 are to be recognized.
2. 5% of the outstanding accounts receivable from Steve amounting to Php 100,000 is to recognized as uncollectible
3. Aly is to be credited with a 1/3 interest in the partnership and is to invest cash aside from the Php 50,000 worth of merchandise.
4. How much cash it to be invested by Aly
5. The total capital of the partnership is: