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2: MMI purchased an asset in 2001 for P100,000. WDAS are available on the asset at 25% on the reducing balance basis. At the end

2: MMI purchased an asset in 2001 for P100,000. WDAS are available on the asset at 25% on the reducing balance basis. At the end of 2003 MMI sold the asset for P40,000. Calculate the Balancing Charge/Allowance on the sale

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