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Use the following information for items 7 to 9: The capital account balances of the partners in ABC Partnership on June 30, 20x1 before any

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Use the following information for items 7 to 9: The capital account balances of the partners in ABC Partnership on June 30, 20x1 before any necessary adjustments are as follows: Capital accounts A, Capital (20%) 600,000 B, Capital (30%) 1,000,000 C, Capital (50%) 400,000 Total 2,000,000 The partnership reported profit of P3,600,000 for the six months ended June 30, 20x1

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