Problem B (3 points)
April, May and June are partners with capital balances of P448,000, P1,560,000 and P680,000 respectively,
sharing profits and losses of 6:4:2. July is admitted as a new partner bringing with him expertise and is to
invest cash for a 25% interest in the partnership, which includes a credit of P420,000 bonus upon his
admission. How much cash should July contribute?