Roe Company provided the following account balances: Machinery Acc. Depreciation Loss on sale of machinery 2019 2,500,000 1,020,000 2020 3,200,000 1,200,000 40,000 In 2020, the entity sold for P260,000 a machine with the original cost of P400,000 and purchased an item of machinery. What is the depreciation of machinery for 2020? 180,000 240,000 280,000 320,000 What is the cost of machinery purchases in 2020? 340,000 700,000 960,000 1,100,000