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On October 1, 2020, LOVELY Company acquired air conditioning unit for store use costing P100,000. The estimated useful life is 5 years and estimated residual

On October 1, 2020, LOVELY Company acquired air conditioning unit for store

use costing P100,000. The estimated useful life is 5 years and estimated

residual value is P10,000. How much is the depreciation expense for the

accounting period ended December 31, 2020?

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