_____ Cody and Paul Formed a Partnership on 4/1/06 and Contributed

_____ Cody and Paul formed a partnership on 4/1/06 and contributed the following assets:
The land was subject to a mortgage of $30,000, which was assumed by the partnership. Under the partnership agreement, Cody and Paul will share profit and loss in the ratio of one-third and two-thirds, respectively. Paul's capital account at 4/1/06 should be

A) $300,000
B) $330,000
C) $340,000
D) $360,000
E) None of the above.