Freight Company acquired 100 percent of Shipper Enterprises. At the acquisition date, Shipper's plant assets have an historical cost of P250,000 and an accumulated depreciation of P56,000. The appraised value of Shipper's plant assets is P300,000. 

What is the amount of the acquisition date worksheet elimination to accumulated depreciation (indicate debit or credit)?

Answer rating: 100% (QA)

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