Question 3 of 50 1 Point On Jan 10, 2023, partners Kong, Nang and Dee of KND Partnership decided to terminate the operation of their business because of the huge amount of loss incurred in 2022 The business was heavily affected by the pandemic due to Covid-19 Kong, Nang and Dee share profits and losses in the ratio 4.3.3, respectively. All partners are personally solvent, and Nang is a limited partner The Statement of Financial Position of KND Partnership as of December 31, 2022 follows Assets Cash Accounts Receivable Liabilities & Partners' Equity 256,000 Accounts Payable 900,000 Due to T Nang 60,000 30,000 Allow For Bad Debts (6,000) Due to C Dee 20,000 Due from F. Kong 20,000 F Kong, Capital 140,000 Equipment 1,200,000 T. Nang, Capital 101,200 Accumulated Depreciation, Equipment C. Dee (200,000) 138,800 Total Assets 1,330,000 Total Liabilities & Partner's Equity 1,330,000 The customers' accounts are no longer collectible, and the equipment were sold at a loss of P400,000 The liabilities to outside creditors were paid in full, using all cash available and contribution of Kong from his personal savings account. Absorption of loss on realization of assets resulted to deficiency in Nang, Capital, this deficiency is eliminated by