C, D & E formed a partnership with agreed capitalization of P300,000 which should be contributed…

Partner C :
Cost Fair Market
Land 50,000 110,000
Eqpt 70,000 60,000
Notes payable 20,000 20,000

Partner D:
Cost Fair Market
Cash 100,000
Supplies 20,000 10,000
Eqpt 50,000 40,000