Yujin and Minju fomed a partnership. The balance sheet as of July 31, 2015, for the business owned by Yujin, shows the following assets and liabilities: Cash Accounts receivable Merchandise inventory Furniture and Fixtures Accounts payable P 50, 000 34,000 220, 000 164, 000 28, 800 It is estimated that 5% of the receivables will prove uncollectible. The cash balance includes a 1,000 shares marketing equity securities recorded at its cost, P4, 000. The stock last sold on the market at P17.50 per share. Merchandise Inventory includes obsolete Items costing P18, 000 that will probably realize only P4, 000. Depreciation has never been recorded; however, the furniture and fixtures are two years old, having an estimated total life of 10 years, and would cost P240, 000 if purchased as new. Prepaid items amounted to P5, 000 and P100, 000 merchandise. Partner Minju will Invest cash equal to the capital interest of Yujin. How much capital is to be credited to Yujin upon formation?

Cash Accounts receivable Merchandise inventory Furniture and Fixtures Accounts payable P 50,000 34,000 220,000 164,000 28,800 It is both