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QUESTION 2 Tim Company purchased a delivery truck for P50,000 on January 1,2021, with an...

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Accounting

QUESTION 2 Tim Company purchased a delivery truck for P50,000 on January 1,2021, with an estimated useful life of 8 years and a residual value of P5,000. The company uses the straight-line depreciation method. a. Calculate the depreciation that should be recorded on the income statement of the company for the year ended 31 April 2024.(4 marks)

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