The balance sheet for Coney, Honey, and Money partnership shows the following information as of December 31, 2015;
Cash P 40,000 Liabilities P 100,000
Other assets 560,000 Coney, loan 50,000
Coney, capital 250,000
Honey, capital 140,000
Money, capital 60,000
P 600,000 P 600,000
Profit and loss ratio is 3:2:1 for Coney, Honey, and Money, respectively. Other assets were realized as follows:
Date Cash Received Book Value
January 2016 P 120,000 P 180,000
February 2016 70,000 154,000
March 2016 250,000 226,000
Cash is distributed as assets are realized.
Cash received by Money in January 2016 is?