Bing and Bingo decided to dissolve and liquidate the partnership on June 16, 2020. On that date, the following account balances are as follows: ASSETS LIABILITIES AND EQUITY Cash P15,000 Accounts...

Problem:

Extracted text: Bing and Bingo decided to dissolve and liquidate the partnership on June 16, 2020. On that date, the following account balances are as follows: ASSETS LIABILITIES AND EQUITY Cash P15,000 Accounts Payable P170.000 Other Assets 320,000 Loan. Bing 30.000 Advances to Bingo 35.000 Bing, Capital 60.000 Bingn, Capital 110000 Total Assets P370,000 Total Liabilities and Equity P370,000 On July 1, non-cash assets with a book value of P190,000 were sold at P165,000, and paid liquidation expenses, P6,000. On July 23, the remaining non-cash assets were sold at P80,000, and all available cash was distributed to partners. Profit and loss ratio is 3:1, respectively. How much is the total cash received by Bingo upon liquidation of the partnership?