RR and BB established a trading partnership. They share profits equally after allowing salaries of P40,000 per year for RR and interest on partner’s ending capital at 5% per year. On January 1, 2021,...

RR and BB established a trading partnership. They share profits equally after
allowing salaries of P40,000 per year for RR and interest on partner’s ending
capital at 5% per year. On January 1, 2021, their capital balances are as follows:
RR, P200,000 and BB, P100,000.
On July 1, 2021, BB invested an additional P100,000 and RR’s salary was
discontinued. The partnership profit for the year ended Dec. 31, 2021 was
P337,500.
Required:
1. Prepare the schedule of profit distribution to partners.