The balance sheet accounts of partners Coleen, Kim and Gerald before liquidation are the following: Cash, P360,000; Non

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The balance sheet accounts of partners Coleen, Kim and Gerald
before liquidation are the following: Cash, P360,000;
Non-Cash Assets, P1,790,000; Liabilities, P1,000,000; Coleen,
Capital (50%), P460,000; Kim, Capital (30%), P370,000 and Gerald,
Capital (20%), P320,000. On the first month of liquidation, assets
with a book value of P1,400,000 are sold for P1,060,000.
Liquidation expenses of P50,000 are paid and additional expenses
are anticipated. Liabilities are paid amounting to P362,000, and
sufficient cash is retained to insure the payment to creditors
before making payment to partners. In the first payment of
cash to partners, Kim received P100,000. The cash withheld
for future liquidation expenses amounted to?