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1. Account balances of MAME partnership as of June 30, 2020 are as follows: Cash...

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Accounting

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1. Account balances of MAME partnership as of June 30, 2020 are as follows: Cash P30,000 Trade Payables P165,000 Noncash assets 760,000 Mahir, Capital (70%) 350,000 Mendeley, Capital (30%) 275,000 Total assets P790,000 Total Liabilities and Equities P790,000 Fair value of noncash assets on this date amounted to P735,000. Mohan offered to buy for P760,000 of the partnership's net assets, except cash. How much will Mahir receive as final settlement of his interest in the partnership

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