Problem 2 Sulli and Minho entered into a partnership on March 1, 2013. Sulli invested P250,000 while Minho invested P150,000. Sulli is the managing partner and she is to receive salary of P24,000 per year plus bonus equal to 10% of net profit. The partners also agreed to give 10% interest on their beginning capital At the end of the year, the trial balance of the firm is given as follows: Debit Credit Cash P140,000 Accounts Receivable 134,000 Prepaid Insurance 24.000 Office Supplies 5.000 Furniture and Fixtures 45.000 Store Equipment 200,000 Purchases 390,000 Purchase Returns P 26.000 Sales 562.000 Sales Returns 15,000 Operating Expenses 115,000 Accounts Payable 120.000 Sulli, Capital 210.000 Minho, Capital 150,000 P1.068,000 P1,068,000 Ending amount of assets amounts to P75,000 for Merchandise Inventory and P2,800 for Office supplies. Accrued utilities of P6,200 is to be recognized. All depreciable