Question: Alex invests P160,000 in a partnership for a 1/5 interest. Prior to Alex's admission, the partnership had two partners with capital balances of P190,000 each.

Alex invests P160,000 in a partnership for a 1/5 interest. Prior to Alex's admission, the partnership had two partners with capital balances of P190,000 each. if no asset revaluation is recognized prior to Alex's admission, what amount is credited to his capital account?

P90,000

P108,000

P135,000

P160,000

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