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How much is the depreciation expense for andy lim

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Problem 1. Andy Lim purchased a delivery vehicle on January 1, 2020 amounting to P 250,000. It is estimated that the vehicle will be useful for 10 years. The vehicle can be sold for P10,000 at the end of its useful life. If the accounting period being reported by Andy is one (1) year from January - December 2020, how much is the depreciation expense? Use the straight-line method of depreciation.

Reference no: EM132893319

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