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What amount of interest should be credited

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Question - The partnership agreement of Niza and Sala provides the interest at 20% per year is to be credited to each partner on the basis of weighted-average capital balances. A summary of Sala's capital account for the year ended December 31, 2019 follows:

Balance, January 1 P500,000

Additional Investment, April 30 120,000

Withdrawal, October 31 (80,000)

Balance, December 31 540,000

Required - What amount of interest should be credited to Sala's capital account for 2019?

Reference no: EM132540358

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