On May 1, 2018, Jose and Pedro formed a partnership and agreed to share profits and losses  in the ratio of 3:7, respectively. Jose contributed a computer that cost himP50,000. Pedro  contributed P200,000 cash. The computer was sold for P55,000 on May 1, 2018  immediately after the formation of the partnership. What amount should be recorded in  Jose’s capital account on formation of the partnership? a. P55,000 b. P51,500 c. P60,000 d. P50,000

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