On the notes receivable will dated July 1, 2019 and P20,000, 12% dated August 1, 2019. Interest he Merchandise Invent 4., Interest on notes payable to be accrued at 14% annually from Apr. 1, Office Supplies 2019. Furniture and Fixtu To close the b 5./ The furniture and fixtures are to be valued at P46,000. 6. Office supplies on hand that have been charged to expense in the past amounted to P4,000. These will be used by the partnership. New Cashership Illustration. The statement of financial position of Galicano Del Mundo on Oct. 1, 2019, and th before accepting Marissa Dimarucot as partner is shown as follows: Galicano Del Mundo Statement of Financial Position form Oct. 1, 2019 cash DO with Assets D Cash P 60,000 Notes Receivable 30,000 Accounts Receivable P240,000 Less: Allowance for Uncollectible Accts. 10,000 230,000 Merchandise Inventory 80,000 Furniture and Fixtures P60,000 Less: Accumulated Depreciation 6,000 54,000 Total Assets P454,000 Liabilities and Owner's Equity Notes Payable P 40,000 Accounts Payable 100,000 Galicano Del Mundo, Capital 314,000 Total Liabilities and Owner's Equity P454,000 Marissa Dimarucot offered to invest cash to get a capital credit equal to one-half of Galicano Del Mundo's capital after giving effect to the adjustments below. Del Mundo accepted the offer