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Dolphin Company purchased machinery for P720,000 on May 1, 2020. It is estimated that it will have a useful life of 5 years and residual

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Dolphin Company purchased machinery for P720,000 on May 1, 2020. It is estimated that it will have a useful life of 5 years and residual value of P20,000. Prepare the depreciation schedule using the sum of the years' digits method. Year 2020 Year 2021 Year 2022 Year 2023 Year 2024 Year 2025 Acquisition cost Accumulated depreciation Net book value Depreciation expense

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