WHAT AMOUNT OF NOTE PAYABLE MUST BE ISSUED TO F? (SHOW A DETAILED SOLUTION)

Partners [21, E. F. and E- share profits 40%, 30%. 15%, and 15%. respectively. Their partnership agreement provides that in the event of the death of a partner, the firm shall continue until the end of the fiscal period. Profits shall be considered to have been earned proportionately during this period. and the deceased partner's capital shall be adjusted by the proper share of the profit or loss until the date of death. From that date until the date of settlement with the estate. there shall be added interest of we computed on the adjusted capital. The remaining partners shall continue to share prots in the old ratio. Payment to the estate shall be made within one year from the date of the partner's death. Partner G died on November 16. On December 31, the end of the sixmonth period, account balances on the partnership books before the income summary account is closed are as follows: Cash P 15,000 Notes Payable P 30,000 Accounts Receivable 140,000 Accounts Payable 141,000 Inventories 190,000 D, Capital 34,003 Machinery, net 90,000 E, Capital T5,000 Furniture, net 33,000 F, Capital 43,000 a, Capital 45cm II'IEDI'HE Summary 45:01\": Total P 463 000 P 460,003 111~e income summary account is for the period July 1 - December 31 and is closed on December. [in this date, F decides to retire. D and E agree to pay the balance in F's capital account after distributions of prot, less 2094, and issue a partnership ED-clay, 6% note to F in settlement. What mount of note payable must be issued to F