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Compute the annual depreciation and prepare its entry

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Question - On January 1, 2019, Florante and Laura Publishing House purchasing three heavy duty printing machines to be used for the business. Each machine cost Php 50,000 they paid in cash. After a year ended the value of the machine depreciates. The salvage valune of the machine is said to Php 10,000 and has a life expectancy of 5 years. Prepare the initial entry, and compute for the annual depreciation and prepare its entry.

Reference no: EM133012356

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