How much depreciation expense should be reported in the book, Financial Accounting

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How much depreciation expense should be reported in the book

Problem

Smile Dental Clinic purchased a dental equipment on April 30. 2019 for P301000, paying P20,000 in cash and signing a P60,000, 3-year note payable. The equipment depreciates P400 per month and interest on the note is P500 per month. How much depreciation expense should be reported in the books of Smile Dental clinic for the year 2019?

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Financial Accounting: How much depreciation expense should be reported in the book

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Financial Accounting: How much depreciation expense should be reported in the book

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