A machine is bought for P120,000 on 1 January 2021. It will be used for three years. After that, it will be sold for P20,000. Show the depreciation calculations for each year using the reducing...

A machine is bought for P120,000 on 1 January 2021. It will be used for three years. After that, it will be sold for P20,000. Show the depreciation calculations for
each year using the
reducing balance method with a rate of 10 per cent.