PROBLEM 1-4 A, B, and C are forming a new partnership each contributing cash of P200,000 and their respective office equipment and supplies valued at P100,000, P200,000, and P300,000, respectively. A's noncash contribution is his own developed audit software valued at cost which he could sell for trice the amount. Partners agree to admit his software at market value and they will share profits equally. How much is the capital credit to each partner upon formation