Collin Company purchased machinery for P550,000 on January 1, 2020. It is estimated that it will have a useful life of 6 years and residual value of P50,000. Prepare the depreciation schedule using the double declining balance method. Acquisition cost Accumulated depreciation Net book value Year 2020 [A] [G] [M] Year 2021 [B] [H] [N] Year 2022 [C] [U] [O] Year 2023 [D] [J] [P] Year 2024 [E] [K] [Q] Year 2025 [F] [L] [R] Depreciation expense [S] [T] [U] [V] [W] [X] Double declining balance rate [Y]