The Joyful Company purchased a machine on November 1, 2019 for P296,000. At the time of acquisition, the machine was estimated to have a useful

The Joyful Company purchased a machine on November 1, 2019 for P296,000. At the time of acquisition, the machine was estimated to have a useful life of ten years and estimated salvage value of P8,000. Joyful has recorded monthly depreciation using the straight-line method. On July 1, 2028, the machine was sold for P26,000. should be the loss recognized from the sale of the machine? (whole numbers with comma to separate thousand and without peso sign) answer it completely using good accouting form. you

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