Partners A, B and C decided to liquidate their partnership.

A summary of the partnership’s statement of

financial position is shown below:

Assets Liabilities Equity

Cash Noncash A (20%) B (30%) C (50%)
20,000 480,000 30,000 100,000 170,000 200,000

One-third of the noncash assets were sold for ₱70,000. The partnership paid ₱8,000 liquidation expenses.
Partner C is insolvent. How much cash did A receive from the settlement of the partners’ interests?
a. 12,400 c. 13,600
b. 16,800 d. 12,800