Partners Pam, Louie and Kyo, who share profit and loss in the ratio of 3:5:2 respectively have decided to liquidate their partnership and use priority program. The statement of financial position of the partnership at the time of liquidation is shown below.

Cash 240,000

Other assets 720,000

Accounts payable 186,000

Loan from Louie 60,000

Pam, Capital 216,000

Louie, Capital 240,000

Kyo, Capital 258,000

The partners desire to make an instalment distribution schedule showing how cash would be distributed to partners as assets realized.

1. Assuming that the first sale of other assets having book value of P300,000 realized P150,000 and available cash is distributed, Pam, Louie and Kyo respectively would receive

a) 48,000 ; 48,000 ; 48,000

b) 0 ; 36,000 ; 108,000

c) 18,000 ; 0 ; 126,000

d) 126,000 ; 0 ; 18,000

2.Assuming that the second sale of other assets (assume previous first sale facts) having book value of P180,000 realized P240,000 and all available cash is distributed, Pam, Louie and Kyo, respectively would receive.

a) 36,000 ; 0 ; 24,000

b) 0 ; 36,000 ; 24,000

c) 18,000 ; 30,000 ; 12,000

d) 81,000 ; 105,000 ; 54,000