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The following data relate to store equipment of Progress Company for 2020:
2019 2020
Store Equipment - Cost (2019)P 145,000 (2020)P 175,000
Accumulated Depreciation (2019)58,000 (2020)60,000
Store equipment costing P 30,000 was sold for P 21,000 resulting in a gain of P 3,000.
Problem 1: How much is the Depreciation Expense on store equipment for 2020?
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