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Salawahan Company had the following machineries that are depreciated under the group depreciation method: Cost Residual Value Depreciable Cost Useful Life Depreciation Equipment A P3,200,000

Salawahan Company had the following machineries that are depreciated under the group depreciation method:

Cost

Residual Value

Depreciable Cost

Useful Life

Depreciation

Equipment A

P3,200,000

P200,000

P3,000,000

15

P200,000

Equipment B

2,100,000

100,000

2,000,000

8

250,000

Equipment C

5,300,000

300,000

5,000,000

10

500,000

Total

P10,600,000

P600,000

P10,000,000

P950,000

After 4, years Salawahan sold Equipment A for P800,000 and purchased Equipment D for P5,000,000 to replace the asset. How much is the debit to accumulated depreciation upon sale of Equipment A? (Use 2 decimal places in computing for the composite rate, e.g., 2.51%)

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