How much was the joint venture gain

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JC and Rose agreed on a joint venture to purchase and sell car accessories. They agreed to contribute P50,000 each to be used in purchasing the merchandise, share equally in any gain or loss, and record their venture transactions in their individual books. After one year, they decided to terminate the venture, and data from their records were: Joint venture account credit balances: in books of JC, P36.000; in books of Rose, P40,400. Cost of car accessories taken: by JC, P2,000: by Rose, P3,600. Expenses paid: by JC. P3,700; by Rose, P5,200. How much was the joint venture's gain?

Option 1: 82,000

Option 2: 91,100

Option 3: 85,500

Option 4: 76,400

Reference no: EM132563512

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