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What amount should be recorded as depreciation

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Question - Red Company purchased machine on January 1, 2018 for P6,000,000. At the date of acquisition, the machine had a life of six years with no salvage value. The machine was depreciated on a straight line basis. On January 1, 2021, the entity determined that that machine had a useful life of eight years from the date of acquisition with no residual value. What amount should be recorded as depreciation of the machine for 2021?

Reference no: EM133187671

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