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What amount did C receive in the third installment of cash

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Question - After incurring losses resulting from very unprofitable operation, the Alphabets Partnership decided to liquidate when the partners' capital balances were:

A, capital (40%) P 80,000

B, capital (40%) 130,000

C, capital (20%) 96,000

The non-cash assets were sold in installment. Available cash were distributed to partners in every sale of non-cash assets. After the second sale of non-cash assets, the partners received the same amount of cash in the distribution. And from the third sale of non-cash assets, cash available for distribution amounts to P28,000, and non-cash assets has a book value of P12,500. Using cash priority program, what amount did C receive in the third installment of cash?

Reference no: EM132571961

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