Lee Company received an P 1,800,000 subsidy from the government to purchase manufacturing equipment on January 2, 2021. The equipment has a cost of P 3,000,000, a useful life a six-years, and no salvage value. Lee depreciates the equipment on a straight-line basis. Lee Company received an P 1,800,000 subsidy from the government to purchase manufacturing equipment on January 2, 2021. The equipment has a cost of P 3,000,000, a useful life a six-years, and no salvage value. Lee depreciates the equipment on a straight-line basis. If Lee chooses to account for the grant as deferred revenue, the grant revenue recognized will be [Select] If Lee chooses to account f the amount of depreciation [Select] [Select] P 300,000 per year for the years 2021-2026. P 500,000 per year for the years 2021-2026. Zero in the first year of the grant's life. P 1,800,000 in 2021. If Lee chooses to account for the grant as deferred revenue, the grant revenue recognized will be [Select] If Lee chooses to account for the grant as an adjustment to the asset, the amount of depreciation expense recorded in 2021 will be [Select] [Select] P 200,000 P 300,000 PO P 500,000