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On 1st October, 2013, Ram and Mohan purchased a second-hand machine for Rs. 1,80,000 and spent Rs. 20,000 on its repair and installation.On 30th September, 2016, the machinery was sold for Rs. 1,36,000. The books are closed on 31st March every year and depreciation is charged @ 10% p.a. on the written down value. Show Machinery Account from the date of purchase of machinery till the date of sale of machinery. (8) |
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