The business owned by John was short of cash and John decided to form a partnership with Roque, who was able to contribute cash equal to 60% of the total partnership capitalization. The assets contributed by John appeared as follows in the statement of financial position of her business: Cash P 420,000; Accounts receivable P 90,450 with an allowance for doubtful accounts of P 9,000; Inventory P 21,000; Store Equipment P97,500 with an accumulated depreciation of P15,750.

John and Roque agreed that the allowance for doubtful accounts was adequate. They also agreed that the inventory and store equipment are fairly valued. How much was the cash contributed by Roque into the partnership venture?