Gee Company purchased a machine on July 1, 2017, for ₱750,000. The machine had a useful life of 10 years with a residual value of ₱42,000. In 2020, it became apparent that the machine would become uneconomical after December 31, 2020, and that the machine would have no residual value. What is the charge for depreciation in 2020?

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Calculation of depriciation Purchased machine July12017 750000 Residua... View the full answer