33 Transcribed Image Text: Enter Sandman Co. purchased manufacturing equipment from Sad But True Co. on January 1, 20×8 at a total cost of
P9,000,000. Enter Sandman uses the straight-line method of depreciation and estimates that the equipment has a
useful life of 10 years. On July 1, 20×8 and July 1, 20×9 Enter Sandman performed major regular inspections on the
equipment costing P380,000 and P425,000, respectively. The costs of inspection satisfied the recognition criteria for
capitalization. How much is the carrying amount of the equipment on December 31, 20×9?