no. 7

Question 7 1 pts Cr. . The machinery account of Company A contains the following entries during the year. Date Item Dr. Jan-01 Balance 1,200,000 Jun-30 Purchased new machines 720.000 Jun-30 Installation of new machines 32,000 Proceeds from sale of old machine, cost Sep-30 P100,000, accumulated depreciation P70.000 Oct-31 Repairs of machincry 50.000 Cash paid for trade-in of old machines, cost Dec-01 P60.000. accumulated depreciation P24.000. 150.000 Cash price of new machine is P180.000 What is the correct balance of the Machinery account as of December 31? 44,000 1.972,000 2.032.000 O 2.038.000 2.108.000