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On January 1,2018, Simon Co. sold equipment to Enciso Inc., its wholly owned subsidiary, for P400,000. The equipment had cost Simon P500,000; the accumulated depreciation

On January 1,2018, Simon Co. sold equipment to Enciso Inc., its wholly owned subsidiary, for P400,000. The equipment had cost Simon P500,000; the accumulated depreciation at the time of the sale was P...

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