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Find what balance of accumulated depreciation account

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Problem 1: Milan Corporation purchased an equipment costing P100,000 on July 1, 2008. The equipment has an estimated useful life of 10 years with an estimated residual value of P10,000. The balance of Accumulated Depreciation account on December 31, 2009 is

Option 1: 5,000
Option 2: 4,500
Option 3: 13,500
Option 4: 15,000

Reference no: EM132820801

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