At the beginning of current year, Jade Company purchased a new machine for P4,800,000 andleased it to
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PROBLEM 2
Barnel Company owns and manages apartments. On signing a lease, each tenant must pay thefirst month and last month rent and a P50,000 refundable security deposit. The security deposit is rarely refundable in total because. cleaning costs of P15,000 perapartment are almost always deducted.About 30% of the time, the tenants are also charged for damages to the apartment whichtypically cost P10,000.If a one-year lease is signed on a P90,000 per month apartment, what amount should be reportedas refundable security deposit?
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