question archive On October 1, 2019, Venus Company purchased machinery for P1,900,000
On October 1, 2019, Venus Company purchased machinery for P1,900,000
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On October 1, 2019, Venus Company purchased machinery for P1,900,000. Salvage value was estimated to be P100,000. The machinery will be depreciated over eight years using the sum-of-years'-digits method. If depreciation is computed on the basis of the nearest full month, how much should Venus record depreciation expense for 2020 on this machinery?
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