PP contributed P 24,-000 and CC contributed P 48,000 toform a partnership and they agreed to share profits in the ratio oftheir original contribution. During the first year of operations,they made a profit of P16,290 : PP withdrew P 5,050 and CC P8,000. At the start of the following year, they agreed to admit GGinto the partnership. He was to receive a 1/4th interest in thecapital and profit upon payment of P30,000 to PP and CC, whosecapital accounts were to be reduced by transfers to GGs capitalaccount of amounts sufficient to bring them back to their capitalratio.How should the P 30,000 paid by GG be divided between PP andCC?