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Year 2025 Year 2026 Collin Company purchased machinery for P550,000 on August 1, 2020. It is estimated that it will have a useful life of

Year 2025 Year 2026 Collin Company purchased machinery for P550,000 on August 1, 2020. It is estimated that it will have a useful life of 6 years and residual value of P50,000. Prepare the depreciation schedule using the sum of the years' digits method. Year 2020 Year 2021 Year 2022 Year 2023 Year 2024 Acquisition cost Accumulated depreciation Net book value Depreciation expense

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